Replace CFA #2 (SSEF3&SSEF4

How does specialization encourage international trade? 

• When countries specialize in one product, they can master it and sell it to other nations. 
• When countries make many different products, they do not have to trade. 
• Specialization uses resources from many countries. 
• Specialization does not encourage international trade.

Which is the best example of specialization?

• A surf shop lowers the price on swimsuits.
• A dry cleaner spends extra time on grease spots.
• An assistant in a tailoring shop only replaces zippers.
• An online clothing outlet offers customized monograms.

How does division of labor increase productivity?

• Workers require minimal training.
• Workers require minimal training.
• Workers become expert at one task.
• Workers move often from job to job.

In a voluntary exchange, why do people give something up?

• to increase their self-sufficiency
• to get something they want more
• to allocate scarce resources fairly
• to allocate scarce resources fairly

What's the relationship between specialization and voluntary exchange?

• specialization leads to a need for voluntary exchange
• specialization exists because of voluntary exchanges
• voluntary exchanges causes specialization
• voluntary exchange negates the need for specialization

•Workers perform fewer tasks in order to operate more efficiently

• Land
• Division of Labor
• Factors of Producation 
• Marginal Benefit

The four types of economic systems are: 

• Traditional, Command, Mixed, & Market
• Traditional, Command, Combined, & Market
• Communism, Capitalism, Free Market, and Macroeconomics
• Microeconomics, Macroeconomics, Individual, and Traditional.

SSEF4a Which type of economic system would have the least amount of government regulation?

• Traditional
• Command
• Market
• Socialist

The United States economy is one in which producers are generally free to produce what they want, and consumers are free to purchase what they desire, so long as no laws are broken. 

• Market Economy
• Command Economy
• Liberated Economy
• Mixed Market Economy

SSEF4  Jingo was born to be a warrior-hunter,   Jingo trades the furs of animals he catches to other families and tribes for many goods.  What economic system is this?

• Market
• Command
• Traditional
• Capitalist