Factor endowments are unit cost reductions associated with a large scale of output.

Moore’s law calls attention to the role of transportation technology in lowering production costs.

In a ________ economy, certain sectors of the economy are left to private ownership and free market mechanisms, while other sectors have significant state ownership and government planning.

The WTO arbitrates trade disputes between its member states. What is one power of particular interest that the WTO can use?

The strong enforcement of intellectual property laws helps to

First-mover advantages are gained by those companies that are the early entrants to an industry or market.

The utilitarian approach to ethics is based on the idea that the moral worth of actions is determined by their ultimate consequences.

The term political economy is used to stress the fact that the political, economic, and legal systems of a country are independent of each other and do not influence one another.

To support his idea that the world is “semi-globalized,” _______ points to the fact that FDI represents less than 10 percent of gross fixed capital formation in most countries rather than 80 or 90 percent.

One common measure of economic development is a country’s _________.