International Trade

International Trade

12th Grade

12 Qs

quiz-placeholder

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International Trade

International Trade

Assessment

Quiz

Business

12th Grade

Practice Problem

Medium

Created by

Harry Sain

Used 162+ times

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12 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

To focus on producing one thing to improve productivity is known as:

Specialization
International trade
Absolute Advantage
Supply and Demand

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When determining comparative advantage one must determine 

Opportunity cost
Specialization
Absolute Advantage
Embargos 

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If I am better at all types of production, I have the ______ in all forms of production.

Comparative advantage
Specialization
Absolute advantage
developed nation

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A trade agreement between 27 countries of with the same currency and open trade between those nations.

NAFTA
EU
WTO
ABC

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A trade agreement between Canada, Mexico, and the US

NAFTA
EU
WTO
ABC

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If nations limit trade in of clothing who will benefit?

Domestic Consumers of clothing
Domestic producers of clothing
Foreign Producers of clothing 
department stores who sell clothing

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A major cost of freer trade from poor nations is that they will

get cheaper stuff
they will get more stuff
environmental damage
greater variety of stuff

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