Chapter 3 Vocab

Chapter 3 Vocab

Assessment

Flashcard

Business

9th Grade

Practice Problem

Hard

Created by

Wayground Content

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17 questions

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1.

FLASHCARD QUESTION

Front

Business activities for creating, shipping, and selling goods/services across borders.

Back

International business

2.

FLASHCARD QUESTION

Front

When a country produces a good/service at a lower cost than others

Back

absolute advantage

3.

FLASHCARD QUESTION

Front

Country specializes in producing a good/service efficiently

Back

comparative advantage

4.

FLASHCARD QUESTION

Front

Items brought from other countries

Back

imports

5.

FLASHCARD QUESTION

Front

Goods and services sold to other countries

Back

exports

6.

FLASHCARD QUESTION

Front

Difference between total exports and imports

Back

balance of trade

7.

FLASHCARD QUESTION

Front

Difference between money in and out of a country

Back

balance of payments

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