International Trade

Quiz
•
Business
•
11th - 12th Grade
•
Hard
Jes Sie
Used 14+ times
FREE Resource
30 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
what are the reasons for international trade?
unequal distribution of resources and specialization
good brought into the country
goods sent to other countries
to concentrate their efforts on producing a few goods and services instead of everything they need
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
good brought into the country
imports
exports
absolute advantage
comparative advantage
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
goods sent to other countries
imports
exports
absolute advantage
comparative advantage
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
why do countries specialize in certain products when they trade
unequal distribution of resources and specialization
the ability to produce more of a given product than someone else
The ability of a country to produce a good at a lower opportunity cost than another country can.
to concentrate their efforts on producing a few goods and services instead of everything they need
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the ability to produce more of a given product than someone else
imports
exports
absolute advantage
law of comparative advantage
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The ability of a country to produce a good at a lower opportunity cost than another country can.
absolute advantage
comparative advantage
law of comparative advantage
no advantages
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a nation is better off when it produces goods and services for which it has a comparative advantage
law of comparative advantage
trade deficit
exports
imports
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