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International Trade

Authored by Randi Pro

Social Studies

10th Grade

Used 159+ times

International Trade
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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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