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Chapter 3 Vocab

Authored by Jessica L O'Donnell

Business

9th Grade

Used 7+ times

Chapter 3 Vocab
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17 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

business activities needed for creating, shipping, and selling goods and services across national borders

domestic business

international business

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

absolute advantage

comparative advantage

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a country specializes in the production of a good or service at which it is relatively more efficient

absolute advantage

comparative advantage

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Items brought from other countries

exports

imports

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Goods and services sold to other countries

exports

imports

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the difference between a country's total exports and total imports

balance of trade

balance of payments

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the difference between the amount of money that comes into a country and the amount that goes out of it

balance of trade

balance of payments

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