ECO445
Question: Terms of trade refer to the rate at which the goods of one country are exchange for the goods of another
Answer: Country
Question: The following is the major differences between Domestic trade and International trade except
Answer: Time
Question: An import is a good or service brought into one country from
Answer: Another Country
Question: INtemational trade involves many factors except
Answer: oil
Question: International trade is important because
Answer: decrese in growth
Question: International trade is a trade between
Answer: Nations
Question: Export is the term used to selling of products or service from any other
Answer: Country
Question: Home trade is the exchange of domestic goods within the boundaries of a
Answer: Country
Question: production possibility curve represents various alternative combinations of the two commodities that a country can produce most
Answer: Efficiently
Question: Absolute Cost Advantage is associated with
Answer: Adam Smith
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