David ricardo - Study guides, Class notes & Summaries

Mercantilism - ️️1st theory of international trade- an economic policy under which nations sought to increase their wealth and power by obtaining large amounts of gold and silver and by maximizing exports and minimizing imports Economic Motives - ️️the motivation to increase return through higher revenues or lower costs through international raw materials, natural resources, a cheap labor supply for manufacturing goods Global Institutions - ️️(1) -Help manage, regulate, and pol...

capital what type of a good is a truck used by a florist to deliver flowers physiocrats which group favored a natural economy 6 Ways to Show Appreciation for Your Child's Teacher 0:19 / 0:54 55k If Gordon accounting business had expenses = 90k and revenues totaling 115k last year but he could have had a salary of 80k working for someone else, what was his opportunity cost income effect what states that when the price of a good falls consumers tend to buy more of t...

ethics correct answers the principles of right and wrong that guide an individual in making decisions ethical strategy correct answers a course of action that does not violate a company's business ethics Friedman Doctrine correct answers the only social responsibility of business is to increase profits, so long as the company stays within the rules of law Culturual Relativism correct answers belief that cultures should be judged by their own standards Utilitarian Approach correct an...

(Revolutions, Reform, Romanticism) Which of the following was most central to the development of the early Industrial Revolution? - ANSWER-The shift from human and animal power to mechanical power. (Revolutions, Reform, Romanticism) The first modern factories arose in the... - ANSWER-Textile industry. (Revolutions, Reform, Romanticism) What was NOT a consequence of revolutionary changes in the textile industry? - ANSWER-A reduction in child labor. (Revolutions, Reform, Romanticism) What...

Economics - Unit 1 Economics Fundamentals 100% Pass economics 1. the study of how individuals and nations make choices about ways to use scarce resources to fulfill their needs and wants 2. Social science that deals with the study of the production, consumption, distribution of goods and services and the transfer of wealth to obtain those goods and services. scarcity a situation in which unlimited wants exceed the limited resources available to fulfill those wants trade-offs giving up one thi...

free trade correct answersa situation in which a government does not attempt to influence through quotas or duties what its citizens can buy from another country or what they can produce and sell to another country comparative advantage correct answersthe intellectual basis of modern argument for unrestricted free trade David Ricardo correct answerscomparative advantage Heckscher-Ohlin Theory correct answersThe theory that a country will export goods that make intensive use of the facto...

WGU C211 Peng Complete Questions And Answers All Are Correct Answers Trade deficit refers to: an economic condition in which a nation imports more than it exports. The theory of comparative advantage was advocated by: David Ricardo. The modern trade theories include the following EXCEPT: Theory of comparative advantage The theory of mercantilism: views international trade as a zero-sum game. According to the theory of absolute advantage, under free trade, each nation gains by specializi...

Summary Economic Challenges. All lectures of Economic Challenges and Glossary.

ethics - Answer-the principles of right and wrong that guide an individual in making decisions ethical strategy - Answer-a course of action that does not violate a company's business ethics Friedman Doctrine - Answer-the only social responsibility of business is to increase profits, so long as the company stays within the rules of law Culturual Relativism - Answer-belief that cultures should be judged by their own standards Utilitarian Approach - Answer-guided by what will result in...

Types of Sanctions - Answer- Types of this include: bilateral, multilateral, trade, aid, financial, smart/targeted, total/comprehensive, and third party Bilateral Sanctions - Answer- Sanction from one country to another Multilateral Sanctions - Answer- Sanction from a group of countries to another Smart/Targeted Sanctions - Answer- Sanctions that are meant to focus their impact on leaders, political elites, and segments of society believed to be responsible for objectionable behavior, whil...