Across
- 6. adopted by countries in an economic union
- 7. - monetary measurement of development that takes into account what money buys in different countries
- 8. (advantage)the ability to produce a good at a lower opportunity cost than another producer
- 10. a ban on trade
- 12. used in economic union to allow for free flow of all goods, services and factors of production between each other
- 13. (advantage)gained by offering greater customer value
- 14. a common one is pursued in an economic union
- 15. goods and services sold to other countries
- 17. eliminates trade barriers between member countries and adopts external trade policy
- 18. Probability of event that has happened multipied by negative impact
- 19. a way to get competitive advantage
- 22. taxes on imported goods
Down
- 1. the specialisation of workers on specific tasks in the production process
- 2. group of countries committed to removing 4 things
- 3. done to tax rates in an economic union
- 4. selling products in a foreign country at lower prices than in the producing country
- 5. the growing integration of the world's economies
- 7. an approach used by a government to protect domestic producers
- 9. goods and services purchased from other countries
- 11. a limit on the amount of a good that can be imported
- 15. an increase in a country's productive capacity
- 16. a company that owns or control production facilities out of the country
- 20. a type of economy that has rapid growth but high risk
- 21. a sum of money granted by the gov to assist a business in keeping the price of a commodity low
- 23. investment made by a foreign company in the economy of another country