International Trade

International Trade

Assessment

Flashcard

Life Skills

11th - 12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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21 questions

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1.

FLASHCARD QUESTION

Front

If the country of Columbia has an optimal climate, low labor costs and the reputation for the world's best tasting coffee, it has a ______ in coffee production.

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Back

Absolute advantage

2.

FLASHCARD QUESTION

Front

A trade agreement between 27 countries with the same currency and open trade between those nations.

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Back

EU

3.

FLASHCARD QUESTION

Front

All of the following are terms used to describe limitations on trade except?

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Back

WTO

4.

FLASHCARD QUESTION

Front

This trade barrier limits the number of products that can be brought into a country.

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Back

Quota

5.

FLASHCARD QUESTION

Front

This is a tax on imports that is used to increase price of foreign products and raise government revenue.

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Back

tariff

6.

FLASHCARD QUESTION

Front

The main justification for an embargo on foreign goods is to

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Back

Punish a nation

7.

FLASHCARD QUESTION

Front

Developed nations have all of the following except: better education, high levels of technology, better health, low productivity

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Back

low productivity

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