Import
Absolute Advantage
Comparative Advantage
dianas part
Football History
Review
100
what is any good or service brought in from one country to another country in a legitimate fashion?
An import
100
What is absolute advantage?
the ability of a party to produce more of a good or service than competiters using the same resources
100
What is compartive advantage?
a situation in which a country, individual company or region an produce a good at a lower opportunity cost than that of a competitor
100
who won the super bowl last year?
Colts
100
What is buying personal stuff an example of?
Individual spending
200
What is another meaning of imports?
the economic value of all goods and services that are imported
200
who has the absolute advantage?
peopel who produces better than competitors
200
When did David Ricardo develope comparative advantage?
in 1815
200
who won the super bowl 2 years ago?
steelers
200
What is the order of the business cycle?
Prosperity, Recession, Depression, Recovery
300
the seller of imported goods
What is an Exporter?
300
What countrys have absolute advantage?
Its not the country that has the power its the coorperation that rules the planet
300
Who developed the law of comperative advantage?
David Ricardo
300
who won the first 2 super bowls?
Green Bay Packers
300
what is inflation?
An increase in the general level of prices
400
What is an Importer?
the buyer of imported goods
400
what is an example of absoulte advantage?
China has an absolute advantage over Sri-lanka and its production of rice
400
What dose compartive advantage produce?
It produces a particular good or service at a lower opportunity cost
400
what year did the panthers go to the super bowl?
2004
400
What is GDP?
A countries total value of all final goods and services produced in one year
500
What is bringing goods and services into the port of the country?
import
500
Can a person have both absolute and comparative advantage?
what is an example of absoulte advantage?It depends on what they are compared to.
500
How do you calculate comparative advantage?
determine if the data given to you deals with comparative outputs or imputs
500
What is what team has won the most super bowls? and how many did they win?
pittsburg steelers, 6
500
What is a T-Bill Rate?
The yield on a short term (13 week) US government debt obligations
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