
Comparative/Absolute Advantage
Quiz
•
Social Studies
•
12th Grade
•
Hard
Kathryn Askerzada
Used 7+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
When one country is good at producing in a particular commodity, they have a(n) _____ .
Comparative advantage
Complete specialization
Absolute advantage
None of the above
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The basis of trade based from the lowest opportunity cost is considered as ____.
Factor Endowment
Adam Smith Theory
Comparative Advantage
Absolute Advantage
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Identify the basis of trade of the following table:
Malaysia has comparative advantage in Cloth
Malaysia has absolute advantage in Cloth production
Japan has comparative advantage in Car
Japan has absolute advantage in Cloth
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
An opportunity cost can be define as second best alternative that have to let go....
True
False
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The U.S. can produce 50 cars and 25 tools. Peru can produce 20 cars and 15 tools. What is the opportunity cost of producing a car in the U.S.?
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The U.S. can produce 10 ipads or 20 phones. China can produce 20 ipads or 30 phones. Who should produce what?
China- phones
China- ipads
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The US can produce 200 airplanes or 400 trucks. Japan can produce 300 trucks or 100 airplanes.
Which country has the absolute advantage in producing airplanes?
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