Global Economics Vocabulary 5.0 / 5 based on 1 ratingTeacher recommended ? EconomicsGlobalisation and tradeA2/A-levelOCR Created by: TessAniCreated on: 13-04-13 17:20 51032481976 Across 1. term to describe the combined economies of the countries using the euro (4, 12) 6. a global organisation that provides development funding (5, 4) 7. when income is below the level that would allow someone to enjoy some agreed minimum standard of living. WB defines 'extreme poverty' as less than $1 a day PPP and 'moderate' as less than $2 per day PPP (7) 8. Business strategy that limits the risk that losses are made from changes in the price of currencies or commodities (7) Down 2. deepens economic integration from a customs union by eliminating non-tariff barriers to trade, promoting the free movement of labour and capital and agreeing common policies in a number of areas (6, 6) 3. countries in a region that have formed an 'economic club' based on abolishing tariffs and non-tariff barriers to trade e.g. NAFTA and ASEAN (8, 7, 4) 4. industries in an economy that are relatively new and lack the economies of scale that would allow them to compete in international markets against more established competitors in other countries (6, 10) 5. all those people of working age who are in employment or actively seeking work (6, 5) 9. the amount of finished goods that firms hold in order to be able to satisfy increases in demand (6) 10. the theory of investment that states that the level of investment depends on the rate of change of national income (11)
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