Terms of Trade Practice

Which of the following would be a fair term of trade?

• 1 game for 3 widgets

• 1 game for 2 widgets

• 1 game for.1 widget

• 1 game for 1/2 widget

Answer explanation

Which of the following would be a fair terms of trade for both countries?

• 1 bat for 1 glove

• 1 bat for 2 gloves

• 1 bat for 4 gloves

• 1 bat for 6 gloves

Answer explanation

What would be a fair terms of trade for both countries?

• 1 Sweater for 3 mugs

• 1 Sweater for 1 mug

• 1 Sweater for 2 mugs

• 1 Sweater for 4 mugs

Answer explanation

Which of the following would be a fair terms of trade?

• 1 Glove for 1 Mitten

• 1 Glove for 2 Mittens

• 1 Glove for 1/4 Mitten

• 1 Glove for 0 Mittens

Answer explanation

What is a fair terms of trade for both countries?

• 1 Microchip for 5 Brooms

• 1 Microchip for 4 Brooms

• 1 Microchip for 9 Brooms

• 1 Microchip for 40 Brooms

Answer explanation

Which of the following could be considered a fair trade between Atlantis and Newfoundland

• 1 Cucamelon for 2 Swamp Taro

• 1 Swamp Taro for 3 Cucamelon

• 1 Cucamelon for 7 Swamp Taro

• 1 Swamp Taro for 1/8 Cucamelon

Answer explanation