Save
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


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. Your email address is only used to allow you to reset your password. See 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.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
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
Popular Economics sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards