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Economic Globalization

Authored by Richard Lawson

Social Studies

9th - 12th Grade

Used 148+ times

Economic Globalization
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50 questions

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1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The exchange of goods and services by sale or barter driven by the need for resources.

Fair Trade

Globalization

Trade

Standard of Living

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

A policy in which a nation does not try to limit imports or exports by enacting tariffs (taxes on imports) or subsidies (money to assist an industry so prices can remain low).

Free Trade

Trade War

Goods and Services

Supply and Demand

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image

A large company such as McDonalds that has operations in more than one country.

Domestic Corporation

Multinational Corporation

Foreign Corporation

State Corporation

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image

Who typically ends up paying tariffs?

Importers and/or consumers

The International Monetary Fund

Congress

Exporters

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

If a country is better at making a certain product than other countries then they have ______ .

Comparative advantage

Specialization

Absolute advantage

developed nation

6.

MULTIPLE CHOICE QUESTION

2 mins • 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

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

An amount of something left over when requirements have been met is called a ____________ situation.

Shortage

Surplus

Equilibrium

Supply

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