What term is used to describe when a country’s imports are higher than its exports?

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What term is used to describe when a country’s imports are higher than What are the disadvantages of a general partnership in business? What is a report that summarizes the financial status of a business?

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Bus 100 Exam 2 Study Guide                                             Xavier Reed  Chapter 3: The World Marketplace (concepts to know)           Competitive Advantage: Countries competing with one another to produce the greatest  amount of goods/services          Competitive Advantage has to do with 3 key concepts:             1. Opportunity Cost­ The value of the next best alternative that is given up to make                the first choice                    o If a country produces more of one good, it produces less of another good.             2. Absolute Advantage­  A country produces more of a product with the same                 amount of resources as another country.                    o China produces more clothes than the U.S. do

What term is used to describe when a country’s imports are higher than

What term is used to describe when a country’s imports are higher than Description

School: Central Michigan University

Department: Business

Course: Essential Business Skills

Professor: Jennifer olsen

Term: Fall 2019

Tags:

Cost: 50

Name: BUS 100

Description: This study guide is from the recommended concepts to study that was posted on Blackboard. There may be things that are on the exam that are not on the study guide.

Uploaded: 10/19/2019

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What term is used to describe when a country’s imports are higher than
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