International Trade
Authored by Randi Pro
Social Studies
10th Grade
Used 161+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Goods and services produced in other countries and sold domestically.
import
export
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Goods and services produced domestically and sold in other countries.
import
export
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The characteristic of a society in which people rely on others for most of the goods and services they want.
Economic Interdependence
Economic Self-Sufficiency
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The condition that exists when someone can produce a good or service using fewer resources than someone else.
Absolute Advantage
Comparative Advantage
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The condition that exists when someone can produce a good or service at a lower opportunity cost than someone else.
Absolute Advantage
Comparative Advantage
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The policy of eliminating barriers to international trade; free trade allows goods and services to move more freely across borders.
Free Trade
Protectionism
Trade Embargo
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The policy of erecting trade barriers to shield domestic markets from foreign competition.
Free Trade
Protectionism
Trade Barriers
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