
Chapter 3 Assessment Review
Quiz
•
Business
•
9th - 12th Grade
•
Medium
Lenora Manna
Used 29+ times
FREE Resource
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25 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
When a country can produce a good or service at a lower cost than other countries, they are said to have a (an)
balance of trade
absolute advantage
balance of payments
exchange rate
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Domestic business refers to business activities needed for creating, shipping, and selling goods and services across national borders.
True
False
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Without foreign trade, many things that you buy would cost more or possibly not be available at all.
True
False
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Goods which are brought into a country are called
imports
exports
balance of payments
balance of trade
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
if a country exports more than in imports, it has a
trade deficit
trade surplus
zero balance of payments
none of the above
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
A country has an unfavorable balance of trade when it send out more money than it brings in.
True
False
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
If South Korea exports 28.6 billion dollars worth of goods and imports 39.2 billion dollars worth of goods, they have a trade surplus.
True
False
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