Econ Test

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Across
  1. 6. When a country has an advantage over another in a specific aspect of trade.
  2. 10. When a country has an overall advantage over another.
  3. 11. a total ban on items of trade.
  4. 13. the cost of what was given up by choosing something else
  5. 15. When a country specializes in specific products and produces them.
  6. 18. Refers to the effect that countries have on one another.
  7. 22. Hiring from foreign countries.
  8. 23. restrictions on trade.
  9. 24. Currency a currency that is likely to bring in more exports than important.
  10. 25. what one gains from trade.
Down
  1. 1. locating ones company out of the country to lower production costs.
  2. 2. goods and services brought into a country
  3. 3. a maximum value on imports.
  4. 4. a currency that is likely to bring in more imports than exports.
  5. 5. a tax on imports.
  6. 7. where both arties want to trade and will benefit.
  7. 8. The cost of participating in the market
  8. 9. The group responsible for regulating trade in 100 European countries.
  9. 12. Buying more than you sell
  10. 14. Using products and resources from all over the world.
  11. 16. An agreement between parties on trade.
  12. 17. The relative value of a nation's currency to another.
  13. 19. Selling more than you buy
  14. 20. goods and services taken out of a country
  15. 21. A group responsible for regulating world trade.