Advantages Practice & Trade- Yingst

Flashcard
•
Social Studies
•
12th Grade
•
Hard
Wayground Content
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32 questions
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1.
FLASHCARD QUESTION
Front
The producer that can produce the most output
Back
Absolute Advantage
2.
FLASHCARD QUESTION
Front
The producer with the lowest opportunity cost.
Back
Comparative Advantage
3.
FLASHCARD QUESTION
Front
If the United States can produce more airplanes than China then the U.S. has a _____ in the production of airplanes.
Back
Absolute advantage
4.
FLASHCARD QUESTION
Front
If China can produce shoes with a lower cost than the United States then China has a ______ in the production of shoes.
Back
Comparative advantage
5.
FLASHCARD QUESTION
Front
A focus on developing only certain skills or producing only certain goods/services
Back
Specialization
6.
FLASHCARD QUESTION
Front
The country of Joetopia produces 4 billion gallons of cola, while the country of Amystan makes 400 million gallons of soda. Joetopia has an Absolute Advantage.
Back
True
7.
FLASHCARD QUESTION
Front
Who has the absolute advantage in potatoes?
Back
Frodo
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