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. Specialization is when a country or individual focuses on producing limited goods to increase productive efficiency.
2. Absolute advantage occurs when one can produce more of a good with the same inputs compared to another.
3. Currency appreciation means one unit of a currency can buy more units of another currency than before.
4. Outsourcing is when a company contracts another company to perform a task like website - design.

Answer:

1. Specialization
2. Absolute advantage
3. Currency appreciation
4. Outsourcing