Examlex

Solved

_____ Occurs When a Small Change in Demand by Consumers

question 103

Multiple Choice

_____ occurs when a small change in demand by consumers has a big effect through the chain of businesses that supply all of the goods and services that produce it.


Definitions:

International Trade

The exchange of goods, services, and capital across international borders or territories, which involves the import and export activities between different countries.

Prosperity

A state of economic well-being and successful, flourishing conditions, often associated with wealth.

Exports

Goods or services produced in one country and sold to buyers in another, contributing to a nation's gross domestic product.

Balance of Trade Deficit

Occurs when a country's imports exceed its exports during a given time period, indicating that it is spending more on foreign trade than it is earning.

Related Questions