
QC 7 Econ
Authored by Kelly Connor
Social Studies
11th Grade
Used 22+ times

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16 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The diagram shows the production possibilities curve for Country Y. Which of the following statements is true?
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Labor, human capital, entrepreneurship, natural resources, and capital are all examples of which of the following?
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
If nations specialize according to their comparative advantage and engage in trade with each other, each nation can:
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A benefit, profit, or value of something that must be given up to acquire or achieve something else.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The nation's ability to produce general goods more efficiently than another entity is referred to as?
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To figure out a nation's comparative advantage, you compare their _________ to other entities?
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which statement best explains why nations must trade?
All nations belong to free trade agreements.
All nations seek out new production methods.
No nation has all necessary resources.
No nation can employ all of its laborers.
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