Key Concepts (Grade 12 NSC Matric Economics): Flashcards

Producing goods/services at lower cost than other countries

Producing at lower opportunity cost than other countries

Exchange without govt restrictions like tariffs or quotas

Long-term investments acquiring control in foreign companies

Buying/selling securities without seeking company control

Record of all economic transactions with rest of world

Price at which one currency exchanges for another

Difference between a country's exports and imports

$( ext{Export index} / ext{Import index}) \times 100$

Provides financial aid to countries with payment difficulties