David ricardo questions - Study guides, Class notes & Summaries

ECS3702 SUMMARISED STUDY NOTES 2022.WORLD TRADE AND THE NATIONAL ECONOMY International Economics It is concerned with the exchange of goods, services, factors of production and capital across national boundaries. International Trade The reasons for and the benefits/gains from international trade are no different from those associated with domestic transactions - as with domestic transactions, international transactions offer the benefits of specialisation, allowing us to gain increase...

Economics testbank Finance Chapter 1—These Economic Approach MULTIPLE CHOICE 1. When do economists mean when thesey state those a good is scarce? a. Thesere is a shortage or insufficient demand of these good at these existing price. b. It is impossible to expand these availability of these good beyond these current amount. c. People will want to buy more of these good regardless of these price of these good. d. These amount of these good those people would like exceeds these demand freel...

1. What do economists mean when they state that a good is scarce? a. There is a shortage or insufficient supply of the good at the existing price. b. It is impossible to expand the availability of the good beyond the current amount. c. People will want to buy more of the good regardless of the price of the good. d. The amount of the good that people would like exceeds the supply freely available from nature. ANS: D PTS: 1 DIF: Moderate NAT: BUSPROG: Analytic STA: DISC: Scarcity, tradeoffs...

1. What do economists mean when they state that a good is scarce? a. There is a shortage or insufficient supply of the good at the existing price. b. It is impossible to expand the availability of the good beyond the current amount. c. People will want to buy more of the good regardless of the price of the good. d. The amount of the good that people would like exceeds the supply freely available from nature. ANS: D PTS: 1 DIF: Moderate NAT: BUSPROG: Analytic STA: DISC: Scarcity, tradeoffs...