Show:
Absolute and Comparative Advantage
Trade Barriers and Agreements
Measuring Trade
Vocabulary
Miscellaneous
100
Ability to produce a product most efficiently given all the other products that could be produced
What is comparative advantage?
100
industry in the early stages of development
What is an infant industry?
100
value of a nation's currency in relation to a foreign currency
What is exchange rate?
100
a good or service sent to another country for sale
What is an export?
100
Pink
What is Ms. T's favorite color?
200
the concentration of the productive efforts of individuals and businesses on a limited number of activities
What is specialization?
200
lowering or elimination of trade barriers between two or more nations
What is free trade?
200
value of all monetary transactions between a country's economy and the rest of the world
What is balance of payments?
200
good or service brought in from another country for sale
What is an import?
200
Jets
What is Ms. T's favorite football team?
300
the ability to produce more of a given product using a given amount of resources
What is absolute advantage?
300
cycle of escalating trade barriers
What is trade war?
300
A nation that imports more than it exports is said to have a
What is trade deficit?
300
the use of trade barriers to shield domestic industries from foreign competition.
What is protectionism?
300
Should free trade be encouraged?
What is the essential question for this chapter?
400
Columbia cn produce coffee more efficiently that the United States. Therefore, Columbia has __________________ ____________ over the US.
What is comparative advantage?
400
Name 2 MAJOR trade agreements
What is 1. NAFTA 2. European Union 3. FTAA 4. DR-CAFTA
400
relationship between the value of a country's exports and the value of its imports
What is balance of trade?
400
tax on imported goods
What is tariff?
400
November 22, 2013
What is the 50th anniversary of the assassination of JFK?
500
Lisa worked in a factory that moved overseas. There are no other factories in her area that demand her skills. Name three options she has.
1. Retrain in new job skills that are in higher demand. 2. Move to where her skills are in demand. 3. Stay and take a lower paying, less skilled job. 4. be unemployed.
500
Name the 3 arguments for protectionism.
What is 1. Protect infant industries 2. Protecting American jobs 3. Safeguarding national security
500
What happens when a nation's currency depreciates?
What is its products become cheaper in other countries.
500
a region without trade barriers
What is a free trade zone?
500
Cristo Rey Sacramento is a community committed to....
What is the CRHS ESLRS?