The primary effects on a country’s level of economic development are its literacy level, agricultural dependency, and technology. Making, buying, and selling goods and services within a country is referred to as domestic business. When a country can produce a particular good or service at a lower cost than other countries, a(n) absolute advantage exists. The exchange rate is the value of currency in one country compared with the value of currency in another. Trade barriers can include quotas, tariffs, and embargoes. An agreement between two or more companies to work together on a business project is called a(n) joint venture. A(n) common market is also known as an economic community.
The primary effects on a country’s level of economic development are its literacy level, agricultural dependency, and . Making, buying, and selling goods and services within a country is referred to as . When a country can produce a particular good or service at a lower cost than other countries, a(n) exists. The is the value of currency in one country compared with the value of currency in another. Trade barriers can include , tariffs, and embargoes. An agreement between two or more companies to work together on a business project is called a(n) . A(n) is also known as an economic community.
Fill in the blanks with words that would best complete the passage.
technology quotas absolute advantage domestic business exchange rate common market joint venture
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