Economics unit 3 key terms

?
Y G Y X J I M K W N B Q G Q Q X O W F J G
G I B U W Y J H O R S A E K X F C B L R C
C A B S O L U T E P O V E R T Y P U O E X
E Y O D B F Y U V Y N T F P P E A I A U C
B E R E L A T I V E P O V E R T Y I T J L
R N T J O X O J R H Q O J L G N X E I I H
I N T E R N A T I O N A L T R A D E N B I
X F I X E D E X C H A N G E R A T E G X N
H T N O N L B K Q A N F U V Y M F L E C U
Q G B G E U O P L L R S J G B B N C X W U
C Y S P J J G X Y F U M X K V A C L C A T
A B S O L U T E A D V A N T A G E O H S E
H N A X R T I O R B Y T E A Q D D R A W M
M U L T I N A T I O N A L C O M P A N Y B
E S I N G L E M A R K E T E U O W P G X Y
N E W N J H P W R T P I F X F L I S E E D
K A T J S S O Y N P O B N K S Y D L R A B
E A U S T E R I T Y P R O G R A M U A H R
Y S U S P E C I A L I S A T I O N H T P V
E I F P S P M N N R L E L Q N W T P E L D
N J V C P N L S X U O E O Y R V B L F S D

Clues

  • A comapany that has its headquarters based in one country (usually a developed economy) and its other operations all over the world. (13, 7)
  • A set of policies with the aim of reducing government budget deficits by reducing government spending. (9, 7)
  • Living on less than $1.25 a day. Unable to afford the basic necessities such as food, shelter and clothing. (8, 7)
  • Relative poverty is when people are poor compared with most people/the average person in a country. It is defined as an income of less than 60% of the median income. (8, 7)
  • The economies of different countries can be treated as one when a firm is considering its domestic market. (6, 6, 2)
  • The exchange of goods and services across international boundaries. (13, 5)
  • When a company is able to provide a good or service using fewer resources and at a lower cost than another country. (8, 9)
  • Where a worker/firm/region/country concentrates on producing a narrow range of goods and services. (14)
  • Where the central bank of a country tried to decide on the price of a currency. (5, 8, 4)
  • Where the prices of two currencies are decided by market forces. (8, 8, 4)

Comments

No comments have yet been made

Similar Economics resources:

EU
See all Economics resources »See all Definitions resources »