supply side policy 0.0 / 5 ? Economicssupply side policyA2/A-levelAll boards Created by: yerlanovaCreated on: 14-05-18 12:44 Developed countries richer and industrialized countries with high GDP per capita 1 of 10 Trade liberalisation reduction or removal of tariffs 2 of 10 Globalisation an expansion of World Trade in goods and services 3 of 10 2 factors contributing to globalisation improved transportation, decline in protection 4 of 10 Positive effects of globalisation specialisation and higher employment 5 of 10 Negative effects of globalisation dependency and structural unemployment 6 of 10 Absolute advantage a country can provide a good using fewer resources and at a lower cost 7 of 10 Comparative advantage a country will have a comparative advantage if the opportunity cost of it producing a good lower than the opportunity cost of another country 8 of 10 Interdependence one country depends on another for something, which creates global interdependence 9 of 10 Developing countries manufacturing, labour intensive economies with low GDp per capita 10 of 10
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