Benchmark Review - International

Benchmark Review - International

Assessment

Flashcard

Social Studies

12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

Student preview

quiz-placeholder

17 questions

Show all answers

1.

FLASHCARD QUESTION

Front

The benefit or advantage of an economy to be able to produce a commodity at a lesser opportunity cost than other entities is referred to as

Back

Comparative Advantage

2.

FLASHCARD QUESTION

Front

Which country has an absolute advantage in producing Cars? (note that this is an input problem) Options: Country A, it takes them less time to make cars than B.; Country B, it takes them less time to make cars than A.; Country A, it can make 10 cars to Country B's 8.; There is not enough information in the question.

Media Image

Back

Country B, it takes them less time to make cars than A.

3.

FLASHCARD QUESTION

Front

Which of the following statements is true?
Options:
William has an absolute advantage in making both cakes and pies.
William has an absolute advantage in making both goods.
For every 1 cake William makes, he gives up the chance to make 3 pies.
David has an absolute advantage in making pies.

Media Image

Back

David has an absolute advantage in making pies.

4.

FLASHCARD QUESTION

Front

Based on the table, David...

Media Image

Back

has a comparative advantage in cakes.

5.

FLASHCARD QUESTION

Front

When a country exports more than it imports.

Back

trade surplus

6.

FLASHCARD QUESTION

Front

An excess of imports over exports.

Back

trade deficit

7.

FLASHCARD QUESTION

Front

Value of all goods and services exported from a country minus the value of all goods and services imported from outside the country.

Back

balance of trade

Create a free account and access millions of resources

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?