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Chapter 3: Pre Test

Authored by Laura Omoruyi

Business

9th - 10th Grade

Used 2+ times

Chapter 3: Pre Test
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16 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Domestic business refers to business activities needed for creating, shipping, and selling goods across national borders.

True

False

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Without foreign trade, many things you buy would cost more or not be available.

True

False

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

If a country exports more than it imports, it has a trade surplus.

True

False

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The value of currency in one country compared with the value in another is called the interest rate.

True

False

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

An economy that is largely involved in agriculture is generally unable to provide its citizens with a large number of high-quality products.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following situations represents an absolute advantage?

Saudi Arabia in fresh fish production

Honduras in banana production

Canada in rice production

Norway in orange and grapefruit production

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following products is NOT imported to the United States in any great quantity?

milk

oil

coffee

silk

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