Review of terms and concepts from Unit 4 of AICE Econ AS Level
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
|
|
||||
|---|---|---|---|---|---|
| Export | show 🗑
|
||||
| show | Goods and services purchased from another country.
🗑
|
||||
| Balance of Payments | show 🗑
|
||||
| show | Trade between a number of countries.
🗑
|
||||
| show | Trade between two countries.
🗑
|
||||
| Absolute Advantage | show 🗑
|
||||
| show | The reason for trade. Even with an absolute advantage in production, another country may have a lower opportunity cost of production.
🗑
|
||||
| show | Policies used to protect an economy from foreign competition.
🗑
|
||||
| show | A tax that is imposed on imports and exports.
🗑
|
||||
| show | A physical restriction on imports.
🗑
|
||||
| Export Subsidies | show 🗑
|
||||
| show | Selling goods in an overseas market at below their cost of production.
🗑
|
||||
| show | A newly created industry within an economy.
🗑
|
||||
| Infant Industry Argument | show 🗑
|
||||
| Globalisation | show 🗑
|
||||
| Economic Integration | show 🗑
|
||||
| show | Where member states agree to remove any restrictions on trade among themselves.
🗑
|
||||
| Customs Union | show 🗑
|
||||
| show | Member states agree to common economic policies and, sometimes, a common currency.
🗑
|
||||
| show | A numerical measure of the relationship between export prices and import prices.
🗑
|
||||
| Trading Possibility Curve | show 🗑
|
||||
| show | The difference between exports of goods and services and imports of goods and services.
🗑
|
||||
| show | Part of the balance of payments. A record of the trade in goods and services, investment income and current transfers.
🗑
|
||||
| show | Part of the balance of payments. Shows the transfer of financial assets between a country and the rest of the world.
🗑
|
||||
| Trade Creation | show 🗑
|
||||
| show | Where trade with a low cost country outside a customs union is replaced by higher cost products supplied from within.
🗑
|
Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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
Normal Size Small Size show me how
Created by:
M.Brock
Popular Economics sets