This was an important lecture in microeconomics class. We had to do exercises where we looked at the terms of trade to figure out which country had a bigger comparative advantage from the trade. I think the most important aspect of the terms of trade is that it actually helps countries make...
P. Kindleberger, The Terms of Trade: A European Case Study (Cambridge, Mass.: The Technology Press of M.I.T., and New York: John Wiley, 1956), pp. 150–175. About this Chapter Title Relative Prices and the Terms of Trade Book Title The World Economy Book Subtitle History and ...
specialize in the production of specific good and trade with countries who have a lower opportunity cost rather than do it all themselves Marginal analysis involves... weighing the additional benefits and additions costs of any decision Scarcity unlimited wants but limited resources Economics is a stu...
The terms of trade进出口比价BOP: Balance of Payments国际收支 Current account经营项目 PepsiCo Coca-Cola pump-priming政府提供企业资金 Capital goods生产资料spot price现货价格Ponzi Scheme庞氏骗局 Stagflation滞涨basic metal non-ferreous metal有色金属 Bear market空头市场bull market多头市场 Several calendar qua...
Cap and Trade:This creates a market for pollution. You cap the total amount of pollution allowed in the country. Then you divide that total up into pollution permits. Those permits are allocated or given to companies and then can be bought and sold....
54、份额markup pricing 加减定价法Marshallian demand function 马歇尔需求函数maximization 极大化microeconomics 微观经济学minimum wage 最低工资misallocation of resources 资源误置mixed economy 混合经济model 模型money 货币monopolistic competition 垄断竞争monopolistic exploitation 垄断剥削monopoly 垄断,卖方垄断monopoly equi...
What is a comprehensive definition of economics? Explain what it means: Microeconomics is part of economics. What does "supply" refer to as it is used in economics? What is supply-side economics? What is the trickle-down philosophy? Do you believe in it?
Look through our assets to check your knowledge of these economic topics: Term referring to the reason individuals act in a certain way One of the most important concepts to know regarding macroeconomics and microeconomics The difference between microeconomics and macroeconomics ...
Microeconomics Ch. 15 12個詞語 nealcaitlin 預覽 Ch7 practice problems 101個詞語 piplixal 預覽 Econ 2000 Practice trade questions 8個詞語 katelyn_wale 預覽 IB ch 18個詞語 Britney_Cabrera9 預覽 Test 4 15個詞語 mford242 預覽 Final: Economic Globalization 29個詞語 sophiabellofatto 預覽 Global Studi...
Traditional economy– economic system in which basic economic activity stems from ritual, habit, or custom.Market economy– economic system in which basic economic decisions are made by people and firms acting in their own best interests.Wants– means of expressing needs.Goods– tangible commodities.