Search Header Logo
Ch. 7 & 6 - Global Marketplace

Ch. 7 & 6 - Global Marketplace

Assessment

Flashcard

Other

9th - 12th Grade

Practice Problem

Hard

Created by

Leigh-Kathryn Smith

FREE Resource

Student preview

quiz-placeholder

40 questions

Show all answers

1.

FLASHCARD QUESTION

Front

When a country has special natural capabilities that allow it to produce a given commodity at a lower cost than others.

Back

Absolute Advantage

2.

FLASHCARD QUESTION

Front

The value that a nation gains by selling the goods it produces more efficiently than other goods.

Back

Comparative Advantage

3.

FLASHCARD QUESTION

Front

Involves all people who make purchases for personal use.

Back

Consumer Market

4.

FLASHCARD QUESTION

Front

Import specialist licensed by the US Treasury Dept.

Back

Customs Brokers

5.

FLASHCARD QUESTION

Front

Total ban on specific goods coming into and leaving a country

Back

Embargo

6.

FLASHCARD QUESTION

Front

A negative balance of trade – occurs when a nation imports more than it exports

Back

Trade Deficit

7.

FLASHCARD QUESTION

Front

Europe’s trading block; intended as a political, as well as an economic union.

Back

EU

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?