Foreign

Question 1

can produce a product more efficiently than
other countries

Answer 1

Absolute Advantage:

Question 2

Least opp cost

Answer 2

Comarative

Question 3

Comparative who

Answer 3

David ricardo

Question 4

Absolute who

Answer 4

Afam smith

Question 5

Comp advantage in goods where facotrs are abundant

Answer 5

Factor abundance

Question 6

Factor abundance by,

Answer 6

Eli hecksher, berkl oklin

Question 7

the difference between the monetary value of
exports and imports within a given period of time

Answer 7

Balance of trade:

Question 8

high import low export

Answer 8

Trade Deficit:

Question 9

low import high export

Answer 9

Trade Surplus:

Question 10

government imposed restraint on the flow of international
goods and services

Answer 10

Trade barrier

Question 11

these are trade barriers that are imposed by nature.

Answer 11

Natural

Question 12

taxes imposed by a government on imports or exports af

Answer 12

Tariff

Question 13

impose a limit on the number or the value of a product

Answer 13

Quota

Question 14

policies on product standards for quality, safety and
health

Answer 14

Standard

Question 15

restricts commerce with a specified country or the exchange of goods

Answer 15

Embargo

Question 16

govement imposed limitations on the
purchase and sale of currencies

Answer 16

Exchange controls