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Add to cartWhat are the seven main global regions identified by the World Bank based on historical, cultural, and geographic information?
East Asia and Pacific, Europe and Central Asia, Latin America and the Caribbean, Middle East and North Africa, North America, South Asia, Sub-Saharan Africa.
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What is the best indicator of the economic power of a nation, obtained by estimating the total value of the goods and serviced produced in a certain time period?
Gross domestic product (GDP) or gross national income (GNI).
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What is the main difference between GDP and GNI?
GDP measures the market value of the goods and services produced by labor and property located in a country, while GNI measures the market value of the goods and services produced by labor and property of nationals of a country.
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What is the importance of distinguishing between tradable and nontradable goods and services in economic development?
Tradable goods and services compete with international providers, while nontradable goods and services are provided locally and do not compare with international providers.
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What is the World Economic Forums framework for global competitiveness based on?
The framework distinguishes 12 pillars of competitiveness, subdivided under four main headings: Basic requirements, Efficiency enhancers, Innovation and sophistication factors, and Business sophistication and innovation.
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What is the purpose of the UN International Comparison Project (ICP)?
The ICP collects data on the prices of goods and services and calculates purchasing power parity (PPP) exchange rates, which better reflect the value of goods.
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What is the best indicator of the economic well-being for the average person in a country?
What is the concept of comparative advantage in international trade?
It refers to the ability of a country to produce a particular good or service at a lower opportunity cost than another country.
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Create quizTest your knowledge of international trade, economic development, and urbanization with these practice questions.
18 questions
English
12-18-2023
Universiteit / Vrije Universiteit Amsterdam / Economie en Bedrijfseconomie / International Trade and Development Economics