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The maker of goods and services
comparative advantage
import
opportunity cost
Law of supply
absolute advantage
Law of Demand
producer
productive resources
to bring in or buy from other countries
comparative advantage
import
opportunity cost
Law of supply
absolute advantage
Law of Demand
producer
productive resources
the value of your second best choice
comparative advantage
import
opportunity cost
Law of supply
absolute advantage
Law of Demand
producer
productive resources
when price increases, supply increases
comparative advantage
import
opportunity cost
Law of supply
absolute advantage
Law of Demand
producer
productive resources
When price decreases, demand increases
comparative advantage
import
opportunity cost
Law of supply
absolute advantage
Law of Demand
producer
productive resources
How an item will be produced is called what?
comparative advantage
import
opportunity cost
Law of supply
absolute advantage
Law of Demand
producer
productive resources
Having the advantage of producing certain goods is called what?
comparative advantage
import
opportunity cost
Law of supply
absolute advantage
Law of Demand
producer
productive resources
a country should concentrate on doing what it does best
comparative advantage
import
opportunity cost
Law of supply
absolute advantage
Law of Demand
producer
productive resources
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