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- https://socialsci.libretexts.org/Courses/HACC_Central_Pennsylvania's_Community_College/ECON_201%3A_Principles_of_Macroeconomics_(Balic)/11%3A_Globalization_and_Protectionism/11.02%3A_International_Trade_and_Its_Effects_on_Jobs_Wages_and_Working_ConditionsIn the early 1990s, the United States was negotiating the North American Free Trade Agreement (NAFTA) 1 with Mexico, an agreement that reduced tariffs, import quotas, and nontariff barriers to trade b...In the early 1990s, the United States was negotiating the North American Free Trade Agreement (NAFTA) 1 with Mexico, an agreement that reduced tariffs, import quotas, and nontariff barriers to trade between the United States, Mexico, and Canada. However, linking labor conditions in low-income countries to trade deflects the emphasis from the real question to ask: “What are acceptable and enforceable minimum labor standards and protections to have the world over?”
- https://socialsci.libretexts.org/Courses/Prince_Georges_Community_College/ECN-1050%3A_Principles_of_Microeconomics/02%3A_Choice_in_a_World_of_Scarcity/2.02%3A_How_Individuals_Make_Choices_Based_on_Their_Budget_ConstraintSecond, the slope is defined as the price of bus tickets (whatever is on the horizontal axis in the graph) divided by the price of burgers (whatever is on the vertical axis), in this case $0.50/$2 = 0...Second, the slope is defined as the price of bus tickets (whatever is on the horizontal axis in the graph) divided by the price of burgers (whatever is on the vertical axis), in this case $0.50/$2 = 0.25. The budget constraint framework helps to emphasize that most choices in the real world are not about getting all of one thing or all of another; that is, they are not about choosing either the point at one end of the budget constraint or else the point all the way at the other end.
- https://socialsci.libretexts.org/Under_Construction/Purgatory/Book%3A_Principles_of_Microeconomics_(Casolari)/12%3A_International_Trade/12.01%3A_Introduction_to_International_TradeCountries benefit when they specialize in producing goods for which they have a comparative advantage and engage in trade for other goods.
- https://socialsci.libretexts.org/Courses/Diablo_Valley_College/Econ_101%3A_Economics_of_Public_Issues_(Sorce)/11%3A_Globalization_and_Trade/11.03%3A_International_Trade_and_Its_Effects_on_Jobs_Wages_and_Working_ConditionsWhile the United States economy does experience rises and falls in unemployment rates—according to the Bureau of Labor Statistics, from spring 2008 to late 2009, the unemployment rate rose from 4.4% t...While the United States economy does experience rises and falls in unemployment rates—according to the Bureau of Labor Statistics, from spring 2008 to late 2009, the unemployment rate rose from 4.4% to 10%; it has since fallen back to 5.5% in spring 2015—the number of jobs is not falling over extended periods of time. The degree to which trade affects labor markets has a lot to do with the structure of the labor market in that country and the adjustment process in other industries.
- https://socialsci.libretexts.org/Bookshelves/Economics/Economics_(Boundless)/14%3A_Inputs_to_Production%3A_Labor_Natural_Resources_and_Technology/14.2%3A_Labor_Market_Equilibrium_and_Wage_DeterminantsEquilibrium in the labor market requires that the marginal revenue product of labor is equal to the wage rate, and that MPL/PL=MPK/PK .
- https://socialsci.libretexts.org/Bookshelves/Economics/Managerial_Economics_Principles_(LibreTexts)/02%3A_Key_Measures_and_Relationships/2.02%3A_Economic_Versus_Accounting_Measures_of_Cost_and_ProfitThe discipline of accounting provides guidelines for the measurement of revenue, cost, and profit. Having analyses based on generally accepted principles is important for making exchanges in our econo...The discipline of accounting provides guidelines for the measurement of revenue, cost, and profit. Having analyses based on generally accepted principles is important for making exchanges in our economy. For example, corporations must produce financial statements to help investors and creditors assess the health of the corporation. Individuals and businesses must produce tax returns to determine a fair measurement of income for taxation purposes.
- https://socialsci.libretexts.org/Bookshelves/Economics/Economics_(Boundless)/9%3A_Production/9.2%3A_Production_CostVariable costs change according to the quantity of goods produced; fixed costs are independent of the quantity of goods being produced.
- https://socialsci.libretexts.org/Bookshelves/Economics/Principles_of_Macroeconomics_3e_(OpenStax)/02%3A_Choice_in_a_World_of_Scarcity/2.02%3A_How_Individuals_Make_Choices_Based_on_Their_Budget_ConstraintSecond, we define the slope as the price of bus tickets (whatever is on the horizontal axis in the graph) divided by the price of burgers (whatever is on the vertical axis), in this case $0.50/$2 = 0....Second, we define the slope as the price of bus tickets (whatever is on the horizontal axis in the graph) divided by the price of burgers (whatever is on the vertical axis), in this case $0.50/$2 = 0.25. The budget constraint framework helps to emphasize that most choices in the real world are not about getting all of one thing or all of another; that is, they are not about choosing either the point at one end of the budget constraint or else the point all the way at the other end.
- https://socialsci.libretexts.org/Bookshelves/Economics/Economics_(Boundless)/31%3A_International_Trade/31.1%3A_Introduction_to_International_TradeCountries benefit when they specialize in producing goods for which they have a comparative advantage and engage in trade for other goods.
- https://socialsci.libretexts.org/Bookshelves/Economics/Economics_(Boundless)/3%3A_Introducing_Supply_and_Demand/3.3%3A_Market_EquilibriumWhen a market achieves perfect equilibrium there is no excess supply or demand, which theoretically results in a market clearing.
- https://socialsci.libretexts.org/Bookshelves/Economics/Economics_(Boundless)/1%3A_Principles_of_Economics/1.2%3A_Individual_Decision_MakingWhen scarce resources are used, actors are forced to make choices that have an opportunity cost.
