Busy. Please wait.
or

show password
Forgot Password?

Don't have an account?  Sign up 
or

Username is available taken
show password

why


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
We do not share your email address with others. It is only used to allow you to reset your password. For details read our Privacy Policy and Terms of Service.


Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
Don't know
Know
remaining cards
Save
0:01
To flip the current card, click it or press the Spacebar key.  To move the current card to one of the three colored boxes, click on the box.  You may also press the UP ARROW key to move the card to the "Know" box, the DOWN ARROW key to move the card to the "Don't know" box, or the RIGHT ARROW key to move the card to the Remaining box.  You may also click on the card displayed in any of the three boxes to bring that card back to the center.

Pass complete!

"Know" box contains:
Time elapsed:
Retries:
restart all cards
share
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Econ Pre-Test 1d

QuestionAnswer
absolute advantage is based on .... resource cost
absolute advantage definition is .... the ability of a country or individual to produce greater quantities of goods product or services than other countries.
comparative advantage is based on opportunity cost
comparative advantage- is when a country has an advantage over a particular good than other countries.
opportunity cost-is about producing at the lowest cost and your not losing a lot to produce or make it
1960s-world bank mission shifted to eliminating poverty
united nations (U) also formed at the end of the second world war -purpose help resolve political disputes -before it turns into military disputes
UN (United Nations) - agency called United Nations trade and development (UNCTAD) - in 1964 - provided a forum to the voice of poorer countries throughout theworld
What are the reasons the UN is important? trade originates because of mutual benefit if we find a demand schedule we can convert it to a command curve
CS + PS = Welfare (consumer surplus + producer surplus)
Welfare Payments have been thought of as payments to ___________ poor people
If you keep the price on a product/service the same and not raise it what will probably happen? You will run out
How can you control the demand for houses? Rent control (rent prices stay at a certain price)
A producer interests are concentrated and tend to be... very, *vocal *motivated *lobbying
Consumers are worse off if prices go up and .... you have to pay more for products/services
Trade deficit is when a .... country buys more goods then it sells
Created by: Sankofarae