Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
5 Cards in this Set
- Front
- Back
|
Absolute advantage
|
The comparison among producers of a goos according to their productivity.
|
|
|
Opportunity Cost
|
Whatever must be given up to obtain some item
|
|
|
Comparitive Advantage
|
The comparison among producers of a good according to their opportunity cost.
|
|
|
Imports
|
Goods produced abroad and sold domestically.
|
|
|
Exports
|
Goods produced domestically and sold abroad.
|
