Maps , depending on the size of the geographic area being depicted on the map need to be DIFFERENT scales so that we , the reader are able to comprehend how far any given place is geographically.In other words, it depends on how big the area is being depicted is
Answer: In the carrot scenario, Derek is able to find carrots at the price he wishes to pay because one competitor offers a lower price. That competitor is successful in making a sale and competition causes the consumer to keep looking until the desired price is found. Likewise in the computer scenario, Melissa still searches in a number of places for the desired computer. Competition again is driving the consumer action of shopping around. However, in this case, the consumer is unable to find the desired price and ultimately decides that since all competitors are asking the same price, this must be a fair market price. In that case Melissa wants the model she wants and is willing to pay a higher price for it, but only after exhausting all of her available options by checking out many competitor prices.
1. Embargo - An official ban or trade or other commercial activity with a particular country.
2. Tariff - Tax on imports.
3. Economic growth - The ability of the economy to increase the production of goods and services.
4. Specialization - Workers concentrate on producing those goods and services for which they have a competitive advantage.
5. Currency exchange rate - The price of one country's currency expressed in terms of another country's currency.
6. Quota - Limitation on imports.
7. Voluntary free trade - An ideal feature of a global economy; it is when each party involved in a trade expects to gain from the trade.
8. Trade barriers - Restrictions placed on trade, for example tariffs and quotas.
