21 Terms
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International economics
International trade theories, policies, finances and their effects on economic activities.
Industry: Economy
Add a new termContributors in International economics
International economics
Factor
Economy; International economics
1. Primary factor. 2. Sometimes refers to ''any'' input to production. 3. Anything that helps to cause something, as a "contributing factor. "
Factor cost advantage
Economy; International economics
A comparative advantage of a country, or a competitive advantage of a firm or national industry, that derives from low factor cost, as opposed for example to a superior technology.
Factor price frontier
Economy; International economics
A curve in factor space showing the minimum combinations of factor prices consistent with absence of profit in producing one or more goods, given their prices. Since, with perfect competition, profit ...
Factor productivity
Economy; International economics
1. The productivity of a single factor may refer to either its marginal or its average product. 2. Total factor productivity.
Factor proportions
Economy; International economics
1. The ratios of factors employed in different industries. See factor intensities. 2. The ratios of factors with which different countries are endowed. See factor endowments.
Factor space
Economy; International economics
A graph in which the axes measure quantities of factors.
