an economys ability to produce goods and services at a lower opportunity cost than that of other countries…

an economys ability to produce goods and services at a lower opportunity cost than that of other countries is referred to as\nforeign trade\nabsolute advantage\ncomparative advantage\nglobalization\nquestion 2\n4 pts\nwhat are tariffs?\ntaxes on the import or export of goods from a country\npolitical boundaries between nations\ndisputes between state governments over boundaries\nmilitary blockades of specific countries

an economys ability to produce goods and services at a lower opportunity cost than that of other countries is referred to as\nforeign trade\nabsolute advantage\ncomparative advantage\nglobalization\nquestion 2\n4 pts\nwhat are tariffs?\ntaxes on the import or export of goods from a country\npolitical boundaries between nations\ndisputes between state governments over boundaries\nmilitary blockades of specific countries

Answer

Brief Explanations:

  1. Question 1: Comparative advantage is defined as an economy's ability to produce goods and services at a lower opportunity - cost than other countries. Foreign trade is the exchange of goods and services between countries. Absolute advantage is when a country can produce more of a good with the same resources. Globalization is the process of interaction and integration among people, companies, and governments worldwide.
  2. Question 2: Tariffs are taxes imposed on the import or export of goods from a country. Political boundaries are lines that separate nations. Disputes between state governments over boundaries are related to territorial issues. Military blockades are restrictions on the movement of goods and people into or out of a country by military means.

Answer:

  1. C. comparative advantage
  2. A. taxes on the import or export of goods from a country