Chapter 2 Our Global Economy

Chapter 2 Our Global Economy

9th - 12th Grade

42 Qs

quiz-placeholder

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Chapter 2 Our Global Economy

Chapter 2 Our Global Economy

Assessment

Quiz

Business

9th - 12th Grade

Medium

Created by

Rhonda Spiller

Used 2+ times

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42 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Belief that government should use trade barriers to restrict trade with foreign nations?

Comparative Advantage

Free Trade

Protectionism

Specialization

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This occurs when a country produces less goods and services than what it consumers.

Comparative Advantage

Free Trade

Protectionism

Specialization

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Producing a product at a lower opportunity cost (who sacrifices the least).

Absolute Advantage

Comparative Advantage

Free Trade

Specialization

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Producing a product quicker and more efficient than another country.

Absolute Advantage

Comparative Advantage

Free Trade

Specialization

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Unrestricted purchase of goods and services between countries.

Absolute Advantage

Comparative Advantage

Free Trade

Specialization

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Goods and services sold to another country

Export

Free Trade

Import

Trade Barrier

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Goods and services bought from another country

Export

Free Trade

Import

Trade Barrier

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