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| Section | Objectives |
|---|---|
| Competency 3: Economic Decision-Making by Firms and Customers | - Firm Behavior Under Different Market Structures (Perfect Competition, Monopoly, Oligopoly) - Consumer Behavior (Budget Constraint, Indifference Curves) |
| Competency 1: International Trade and Currency Exchange | - Currency Exchange Rate Determination - Introduction to International Trade Theories - Impact of Interest Rates on Financial Flows and Exchange Rates |
| Key Topics Across All Competencies | - Supply and Demand Shifts - Global Business Strategies and Porter's Framework - Elastic vs. Inelastic Goods - Currency Appreciation and Depreciation - Foreign Direct Investment (FDI) Impacts - International Trade Policies (Tariffs, Quotas) |
| Competency 2: Political and Economic Forces | - Property Rights and the Rule of Law - Market Economy vs. Command Economy |
What is the definition of globalization?
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Which term best describes an economic condition in which a nation exports more than it imports?
Correct Answer: D 🗳️
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Who are the primary and largest participants in the foreign exchange market?
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Which changes increase demand? (Choose TWO.)
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What is purchasing power parity (PPP)?
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