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IMPORTS: Goods and services produced by the foreign sector and purchased by the domestic economy. In other words, imports are goods purchased from other countries. The United States, for example, buys a lot of the stuff produced within the boundaries of other countries, including bananas, coffee, cars, chocolate, computers, and, well, a lot of other products. Imports, together with exports, are the essence of foreign trade--goods and services that are traded among the citizens of different nations. Imports and exports are frequently combined into a single term, net exports (exports minus imports).
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Lesson 4: Production Possibilities | Unit 5: Investment
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Page: 21 of 24
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Topic:
Bundle Choices: E
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Now with bundle E (410 jogging shoes and 4 calibrators).- Producing 4 calibrators has added to the economy's quantity of capital.
- The cost of these 4 calibrators is 40 pairs of shoes.
- Expanding the quantity of our capital has increased resources and shift the production possibilities curve.
- Tomorrow's production possibilities curve is farther out than today's curve. There is growth and a shift in the curve.
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AXIOM A basic precondition or assumption underlying a theory. Axioms are basic, unverifiable world view assumptions--including personal beliefs, political views, and cultural values--that form the foundation of a theory.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads looking to buy either a wall poster commemorating the first day of winter or blue cotton balls. Be on the lookout for rusty deck screws.
Your Complete Scope
This isn't me! What am I?
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In 1914, Ford paid workers who were age 22 or older $5 per day -- double the average wage offered by other car factories.
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"A winner is someone who recognizes his God-given talents, works his tail off to develop them into skills, and uses those skills to accomplish his goals. " -- Larry Bird, basketball player
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Q-RATIO
Ratio of Total Market Value of Physical Assets
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