Formative Content Review (Week 8)

What is the interconnected economies of the nations of the world?

• global economy
• international trade
• multinational trade
• trade

What involves the exchange of goods and services between nations?

• international trade
• multinational trade
• global economy
• trade

What is a company that does business in many countries and has facilities and offices around the world?

• multinational corporation
• international corporation
• multinational trade 
• international trade

Trade is the activity of buying and selling goods and services in domestic or international markets. 

• true
• false

What are goods and services that one country buys from another country?

• imports
• exports

What are goods and services that one country sells to another country?

• exports
• imports

What is the difference in value between a country's imports and exports over a period of time?

• balance of trade
• comparative advantage
• comparative disadvantage 
• exchange rate

What is the ability of a county or company to produce a particular good more efficiently than another country or company?

• comparative advantage
• balance 
• comparative disadvantage
• exports

What is the price at which one currency can buy another currency?

• exchange rate
• balance of trade
• trade
• exchange commission 

What is the practice of the government putting limits on foreign trade to protect businesses at home?

• protectionism
• free trade
• balance of trade
• comparative advantage