Question

drag each label to the correct location. not all labels will be used. match the correct economic term with each scenario. absolute advantage currency appreciation currency depreciation outsourcing specialization comparative advantage a country or an individual concentrates all its productive efficiency on producing limited goods. lisa can produce more pens than tim with the same number of inputs. one unit of a currency buys more units of another currency than it did previously. a company contracts with another company to design its website.

Explanation:

1. When a country or individual focuses on producing limited goods, it's specialization as they are concentrating their efforts.
2. Lisa producing more pens than Tim with the same inputs is an absolute - advantage situation as she has higher productivity in pen - production.
3. One unit of a currency buying more units of another currency is currency appreciation as the value of the currency has increased relative to the other.
4. A company contracting with another to design its website is outsourcing as it is delegating a task to an external entity.

Answer:

1. specialization
2. absolute advantage
3. currency appreciation
4. outsourcing