European Economic Vocabulary

European Economic Vocabulary

8th - 12th Grade

15 Qs

quiz-placeholder

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European Economic Vocabulary

European Economic Vocabulary

Assessment

Quiz

Social Studies, Geography

8th - 12th Grade

Hard

Used 61+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does it mean to import a good?

Buy a good from another country

Sell a good to another country

Refuse to trade goods with another country

Give goods away for free to another country

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The ability to produce a good or service at lower costs than another country is known as-

Gross Domestic Product

Trade deficit

Comparative advantage

Trade surplus

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Tertiary level jobs are a characteristic of-

Developed countries

Developing Countries

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Gross Domestic Product (GDP) per capita means-

The amount of money a country makes

The average person's salary within a country

A country imports more goods than it exports

One country produces a good/service more efficiently than another

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

"A country imports more goods than it exports" describes what vocabulary term?

Interdependence

Comparative advantage

Trade surplus

Trade deficit

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which term means that a country MAKES more money than it spends?

Trade surplus

Market economy

Trade deficit

GDP per capita

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which country has the comparative advantage in banking?

Norway

France

Switzerland

Sweden

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