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Countries gain from exchange when trade enables each country to receive a higher price for exported goods and/or pay a lower price for imported goods. This leads to more efficient resource allocation and allows consumption of a larger variety of goods.International trade is where there is exchange of goods and services across International territories where in most countries this exchange represents a significant a share of gross domestic product(GDP). One of the most immediate benefits of this trade is lower costs to consumers
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Answer:
The answer is: The price elasticity of demand for a good measures the willingness of buyers of the good to buy less of the good as its price increases.
Explanation:
The price elasticity of demand measures the change in the quantity demanded of a product in relation to a change in its price.
The formula for determining the price elasticity of demand (PED) is:
PED = % of the change in Quantity Demanded / % of the change in price
If a good has a high PED (≥ 1) then it is called elastic, which means that any change in the price will change the quantity demanded in a greater proportion. If a good has a low PED (≤ 1) then it is called inelastic, which means that any change in the price will affect the quantity demanded in a smaller proportion.
Usually goods or services considered luxurious (e.g. gourmet cheese), tend to be very elastic (high PED). While products considered basic necessities (e.g. gasoline) tend to be very inelastic (low PED).
Involuntary turnover is where the employee has no choice in their termination—for example, employer-initiated due to nonperformance
Rosa's mother is providing her with a SCAFFOLD to help her internalize.Scaffold is an instructional method that is temporarily used to impress understanding on a young child. Children learn effectively through the process of scaffolding.
