Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

1. Macro Eco > Advantages and Disadvantages of Specialisation and Trade > Flashcards

Advantages and Disadvantages of Specialisation and Trade Flashcards

1
Q

World output

A

Advantage: higher living standards

Disadvantage: based on unrealistic assumptions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

International Markets

A

Advantage: may create economies of scale

Disadvantage: overdependance on imports and exports

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Price level

A

Advantage: lower prices and more choice for consumers

Disadvantage: demotivation, increasing prices

How well did you know this?
1
Not at all
2
3
4
5
Perfectly

1. Macro Eco (38 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions