Theme 4 Economics Edexcel

0.0(0)
studied byStudied by 1 person
learnLearn
examPractice Test
spaced repetitionSpaced Repetition
heart puzzleMatch
flashcardsFlashcards
Card Sorting

1/6

encourage image

There's no tags or description

Looks like no tags are added yet.

Study Analytics
Name
Mastery
Learn
Test
Matching
Spaced

No study sessions yet.

7 Terms

1
New cards

Absolute advantage

When a country can produce goods more cheaply in absolute terms than another country

2
New cards

Absolute Poverty

When people are unable to purchase necessity goods needed to maintain life

3
New cards

Aid

When a country Voluntarily transfers resources to another country in need

4
New cards

Appreciation

Increase in Currency Value using Floating exchange rates

5
New cards

Asymmetric Information

When one party of a transaction has more knowledge than the other causing market faliure

6
New cards

Balance of Payments

Record of all financial dealings over a period of time between economic agents of one country and another

7
New cards

Buffer stock systems

Maximu