Unit 4 International Economics
Authored by David Brown
Social Studies
12th Grade
Used 285+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The ability to produce more of a given product using a given amount of a resource.
Absolute Advantage
Comparative Advantage
Positive Advantage
Negative Advantage
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The ability to produce a product most efficiently given all the other products that could be produced.
Absolute Advantage
Comparative Advantage
Positive Advantage
Negative Advantage
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The value of all monetary transactions between a country's economy and the rest of the world.
Balance of Trade
Trade Deficit
Balance of Payments
Trade Surplus
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The relationship between the value of a country's exports and the value of its imports.
Trade Deficit
Trade Surplus
Balance of Trade
Balance of Payments
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A situation in which a nation imports more goods and services than it exports.
Balance of Trade
Balance of Payments
Trade Surplus
Trade Deficit
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A situation in which a nation exports more goods and services than it imports.
Balance of Payments
Trade Surplus
Trade Deficit
Balance of Trade
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A means of preventing a foreign product of service from freely entering a nation's territory.
Trade War
Trade Off
Trade Association
Trade Barrier
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