supply side policy

HideShow resource information
  • Created by: yerlanova
  • Created on: 14-05-18 12:44
Developed countries
richer and industrialized countries with high GDP per capita
1 of 10
Trade liberalisation
reduction or removal of tariffs
2 of 10
Globalisation
an expansion of World Trade in goods and services
3 of 10
2 factors contributing to globalisation
improved transportation, decline in protection
4 of 10
Positive effects of globalisation
specialisation and higher employment
5 of 10
Negative effects of globalisation
dependency and structural unemployment
6 of 10
Absolute advantage
a country can provide a good using fewer resources and at a lower cost
7 of 10
Comparative advantage
a country will have a comparative advantage if the opportunity cost of it producing a good lower than the opportunity cost of another country
8 of 10
Interdependence
one country depends on another for something, which creates global interdependence
9 of 10
Developing countries
manufacturing, labour intensive economies with low GDp per capita
10 of 10

Other cards in this set

Card 2

Front

Trade liberalisation

Back

reduction or removal of tariffs

Card 3

Front

Globalisation

Back

Preview of the front of card 3

Card 4

Front

2 factors contributing to globalisation

Back

Preview of the front of card 4

Card 5

Front

Positive effects of globalisation

Back

Preview of the front of card 5
View more cards

Comments

No comments have yet been made

Similar Economics resources:

See all Economics resources »See all supply side policy resources »