71 conditions that prompt trade Flashcards
1
Q
economies of scale
A
increasing the scale of production leads to a lower cost per unit of output. increasing size or speed increases efficiency and lowers costs
2
Q
labour productivity
A
the amount of goods and services produced by one hour of labour
3
Q
off-shoring
A
shifting jobs to another country
4
Q
outsourcing
A
shifting jobs to another organisation
