Ekonomi

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Across
  1. 5. consumer in the world can enjoy more goods and services and have higher living and standard
  2. 7. A country’s export may have trading restriction placed on them
  3. 8. Political Union Economic Union Common Market Customs Union Free Trade Area
  4. 12. specialisation means that countries have to trade
  5. 14. taking part in international trade can also increase competitive pressure on firms, to be efficient and gives consumer more choice
  6. 15. May be hit by bad weather and the supply decrease
  7. 17. A country has an absolute advantage in producing a product if it can produce it using fewer from other countries.
  8. 18. People can enjoy the benefits of public goods whether pay for them or not, they are usually unwilling to pay for public goods. This act is the so-called free-rider problem.
Down
  1. 1. Once a public good is produced, the suppliers cannot easily deny it to those who fail to pay. That is, those who cannot (or do not agree to) pay its market price are not debarred or excluded from its use
  2. 2. all barriers in trading are removed
  3. 3. Firms in another country may become more efficient at producing the product or a substitute product may be developed
  4. 4. The suppliers of private goods can very well exclude those who are unwilling to pay
  5. 6. Refers to agreements among countries in a geographic region tor educe, and ultimately remove, tariff and non tariff barriers to the free flow of goods, services and factors of production between each other
  6. 9. One person’s consumption reduces the amount available to others. That is, the amount consumed by one person is unavailable for others to consume.
  7. 10. One person’s consumption does not diminish the amount available to others. Once produced, public goods are available to all in equal amount. Marginal cost of providing the public goods to additional consumers is ZERO.
  8. 11. Firms become more dependent on other firms
  9. 13. two countries can mutually benefit from international trade, even if one is better at producing all products than the other country.
  10. 16. if the firms of a country are good at producing a product, they can specialise in its manufacture