
Specialization
Quiz
•
Social Studies
•
12th Grade
•
Medium
Caleb Watson
Used 2+ times
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an example of specialization?
I decide to make every type of pie that I can
I decide to spend my $20 to go out to dinner instead of the movies
I stop playing basketball and baseball to focus on football
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What would specialization look like for a company?
Lululemon decides to focus solely on making athletic apparel
Nike decides to start video game design
A peach farming business adds apples and pears to its offerings
3.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which of the following is a benefit of specialization?
More total output
The economy becomes more efficient
The marginal benefit decrease
More scarce resources are created
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the Law of Comparative Advantage state?
If two countries both produce a mix of goods, instead of focusing on a particular, more will be produced.
Trade is not beneficial for the economy
If each country specializes in a good with a lowest opportunity cost, more overall items will be produced
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
True or False:
Whoever has the absolute advantage should always produce that good when comparing two countries/companies.
True
False
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