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Protective tariffs
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∙ 15y ago
Jowhara
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What limits specialization in the global economy?
Trade barriers.
The global economy can have specialization in production because of what?
The international division of labor
Increasing specialization within the global economy depends in what?
International trade Apx
Increasing specialization within the global economy depends on what?
International Trade
Describe labor specialization?
Labor specialization led to a diverse West African economy. How?? I need a reason why.
What limits specialization in the global economy?
Trade barriers.
The global economy can have specialization in production because of what?
The international division of labor
Increasing specialization within the global economy depends in what?
International trade Apx
Increasing specialization within the global economy depends on what?
International Trade
Describe labor specialization?
Labor specialization led to a diverse West African economy. How?? I need a reason why.
When an economy relies on specialization?
trade enables individuals to obtain the goods in which they do not have a specialization
What does specialization do for the economy?
it makes it more efficient
How can specialization benefit both buyers and sellers in a free market economy?
In a free market economy, specialization benefits buyers by meeting individual needs. Specialization benefit sellers by creating a sector that is not profitable for big business.
How does specialization affect the economy?
Specialization increases an individual or groups productivity (and income) according to the principle of comparative advantage.
What is the significance of global economy?
Its Global.
What are the most dominant areas in the global economy?
The most domi The most dominant areas in the global economy include: nant areas in the global economy include:
What is the effect of politics in global economy?
A strong political will will keep the global economy sound
