The Process of Making Products Domestically and Selling Them Abroad

question 99

Multiple Choice

The process of making products domestically and selling them abroad is known as ________.

• A) importing
• B) franchising
• C) joint ventures
• D) exporting

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Definitions:

Guns And Butter

A term used in economics to represent the trade-off between a nation's investment in defense and civilian goods.

Increasing Opportunity Cost

A situation where producing more of one good or service leads to a larger increase in foregone production of another good or service.

Economic Growth

The increase in the inflation-adjusted market value of the goods and services produced by an economy over time, typically measured as the percent rate of increase in real GDP.

Full Employment

An economic situation in which all available labor resources are being used in the most efficient way possible, often characterized by the absence of cyclical unemployment.