Unit 5 Review

Unit 5 Review

Assessment

Flashcard

Social Studies

7th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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29 questions

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1.

FLASHCARD QUESTION

Front

How does specialization help trade?

Back

It helps countries focus on producing goods they are best at, increasing efficiency.

2.

FLASHCARD QUESTION

Front

What is a tariff?

Back

A tax on imported goods.

3.

FLASHCARD QUESTION

Front

What is a quota?

Back

A limit on the number of goods that can be imported.

4.

FLASHCARD QUESTION

Front

Why do we need to exchange currencies in international trade?

Back

Because different countries use different money, it needs to be converted for trade.

5.

FLASHCARD QUESTION

Front

Which of the following is not a benefit of voluntary trade? It allows countries to get goods they cannot produce themselves. It increases the variety of products available. It encourages cooperation between countries.

Back

It makes all products free.

6.

FLASHCARD QUESTION

Front

What are the three main trade barriers?

Back

Tariffs, quotas, and embargoes.

7.

FLASHCARD QUESTION

Front

What is the literacy rate?

Back

The percentage of people who can read and write.

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