International Trade, Globalization & Costs

Flashcards covering production costs, scale effects, economic integration, protectionism, and European institutions based on the lecture module.

In the short term, there is a fixed capacity and at least one production factor, usually __________, is constant.

kapitaal/machines

In the long term, all __________ are variable, allowing the full production capacity to be adjusted.

productiefactoren

When Average Total Costs ($GTK$) decrease due to specialization and more efficient use of machines, it is known as __________.

Positieve schaaleffecten

__________ occur when $GTK$ increases due to bureaucracy or management problems during excessive growth.

Negatieve schaaleffecten

The formula for Totale Kosten ($TK$) is $TK = TCK + \_\_\_\_\_\_\_\_\_\_$.

TVK

To calculate Gemiddelde Totale Kosten, the formula used is $GTK = \frac{TK}{\_\_\_\_\_\_\_\_\_\_}$.

q

Marginale Kosten ($MK$) is defined by the mathematical formula $MK = \frac{\_\_\_\_\_\_\_\_\_\_}{\Delta q}$.

\Delta TK

The __________ indicates the extent to which exports 'pay for' imports.

dekkingscoëfficiënt

A dekkingscoëfficiënt calculation that results in a value less than 100 indicates a __________ on the trade balance.

Tekort

The __________ dimension of globalization includes the free movement of goods, services, and capital, as well as an increase in multinationals.

Economisch

The spread of worldwide customs, ideas, and brands like McDonald's represents the __________ dimension of globalization.

Cultureel

__________ are taxes on imported goods used to make domestic products relatively cheaper.

Invoerrechten

A/an __________ or contingentering is a maximum quantity of a product that may be imported.

Quota

Providing financial support to domestic producers to strengthen their competitive position is known as __________.

Subsidies

Protectionism may be used to protect __________, which are developing sectors that need support to become competitive.

Infant Industries

In a/an __________, there are no internal tariffs between member states.

Vrijhandelszone

A/an __________ combines no internal tariffs with a common external tariff (gezamenlijk buitentarief).

Douane-unie

The __________ level of integration allows for the free movement of production factors.

Gemensch. Markt

The __________ level of integration involves the use of a common currency like the Euro.

EMU

The __________ is a supranational institution responsible for submitting legislative proposals and their execution.

Europese Commissie

The __________ is a supranational body that represents the people and handles approval and negotiation of laws.

Europees Parlement

Decision-making by national ministers per country occurs within the __________, which is an intergovernmental institution.

Raad van de EU

The __________ is the judicial body that supervises compliance with European legislation.

Hof van Justitie