Bus. Mgt. Chapter 3

Bus. Mgt. Chapter 3

9th Grade

20 Qs

quiz-placeholder

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Bus. Mgt. Chapter 3

Bus. Mgt. Chapter 3

Assessment

Quiz

Business

9th Grade

Medium

Used 2+ times

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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Exists when a country can produce a good or service at lower cost than other countries

Absolute Advantage

Comparative Advantage

Negative Advantage

Positive Advantage

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Situation in which a country specializes in the production of a good or service

Trade Surplus

Absolute Advantage

Comparative Advantage

Positive Advantage

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Goods and services sold or sent out to other countries are which of the following?

Imports

International Trade

Exports

Trade Deficit

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A favorable balance of trade is which of the following?

Imports > Exports

Exports > Imports

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An unfavorable balance of trade is which of the following?

Imports > Exports

Exports > Imports

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

One financial thing a business person has to be aware of as goods are exchanged is...

Foreign Exchange Rate

Trade Surplus

CPI

Balance of Payments

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Political Instability has which effect on a country's currency?

Strengthens

Weakens

No Effect

All of the provided answers

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