Trade
Authored by OSCAR QUINTANILLA
Social Studies
12th Grade
Used 6+ times
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22 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To focus on producing one thing to improve productivity is known as:
Specialization
International trade
Absolute Advantage
Supply and Demand
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When determining comparative advantage one must determine
Opportunity cost
Specialization
Absolute Advantage
Embargos
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If I am better at all types of production, I have the ______ in all forms of production.
Comparative advantage
Specialization
Absolute advantage
developed nation
4.
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
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This is a tax on imports that is used to increase price of foreign products and raise government revenue.
tariff
quota
subsidy
embargo
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is not a benefit of trade between nations?
More stuff
Better stuff
cheaper stuff
similar stuff
7.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Watches made in Norway are worn by people in California.
import
export
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