What is difference between economic Ang global external components?
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What is meant by international economics?
International economics is concerned with the effects upon economic activity from international differences in productive resources and consumer preferences and the international institutions that affect them.
How does globalization affect the economy of a country?
In general, globalization decreases the cost of manufacturing. This means that companies can offer goods at a lower price to consumers. The average cost of goods is a key aspect that contributes to increases in the standard of living. Consumers also have access to a wider variety of goods
What is the difference between economics and economy?
The economy is in recession. Economics is a science that studies economies and develops possible models for their functioning, e.g. ... The economic growth is very slow. Economical, on the other hand, carries a somewhat figurative meaning of “not requiring too much of something” (such as money, space, time, etc.), e.g.
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