Bearcat International Trade

Bearcat International Trade

12th Grade

35 Qs

quiz-placeholder

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Bearcat International Trade

Bearcat International Trade

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Medium

Created by

Jodie Sprenkle

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35 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

To focus on producing one thing or specific product and to improve productivity is known as:

Specialization

International trade

Absolute Advantage

Supply and Demand

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If I am better at all types of production or I can simply produce more than you, I have the ______ in all forms of production.

Comparative advantage

Specialization

Absolute advantage

developed nation

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When determining comparative advantage, one must determine __________________ by looking at what I can produce after specialization.

Opportunity cost

Specialization

Absolute Advantage

Embargos

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A trade agreement between Canada, Mexico, and the US, _________, has been a source of contention among many including our President.

NAFTA

EU

WTO

ABC

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A trade agreement between 27 countries, using the same currency and allows open trade between those nations.

NAFTA

EU

WTO

ABC

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All of the following are terms used to describe limitations on trade except?

Trade Barriers

Sanctions

Trade restrictions

EU

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This trade barrier limits the number of products that can be brought into a country.

Tariff

Quota

Embargo

Subsidy

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