Profiting by buying a product at a specified price in one market and then selling that product in a
different market for a higher price is:
Having an absolute disadvantage in all products means that a country:
-Is less productive than other cou
Trade allows consumption:
-outside of the country's production-possibility curve.
Individual indifference curves differ from person to person:
-so there is no completely accurate way to combine individual indifference curves to
arrive at a community indif
Japan would be a much poorer country without trade because:
-it has scarce arable land and natural resources.
In the shift from no trade to free trade, for the good that the country imports, consumption of that
-increases, and production of that goo
By 2006, the cost of production of natural gas in Canada was _
-Increasing; the lowest cost sources were being depleted.
What is the primary factor that affects both international trade flows of goods and services and
international financial flo