56 (a, b, c) Explain how voluntary trade benefits buyers and

56 (a, b, c) Explain how voluntary trade benefits buyers and

7th Grade

11 Qs

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56 (a, b, c) Explain how voluntary trade benefits buyers and

56 (a, b, c) Explain how voluntary trade benefits buyers and

Assessment

Quiz

Social Studies

7th Grade

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Created by

Douglas Edington

Used 12+ times

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11 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What is a quota?

A tax on imports
A limit on imports
A halt to trade
A tax on exports

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What is a trade surplus?

When country imports more than it exports
When a country exports more than it imports
When a country will export to only one country
When extra exports are sent to a country

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is GDP?

the total value of all goods and services produced in a year in one country
the total value of goods produced by a person in a year.
the total value of goods consumed by a person in one year.
the total value of all goods and services consumed in a year in one country

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Why do countries need an exchange rate?

to promote tourism
to determine GDP
to see who has the most money
to trade with each other

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What is specialization?

when a country produces only the goods it can make easily and efficiently
when a country produces only special goods
when a country produces only the goods to export
when a country only imports goods

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What is a subsidy?

A tax on imports

When the government of a country gives money to certain businesses so that they can continue to compete with imports from other countries

A halt to trade

A tax on exports

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What are sanctions?

A tax on imports

When the government of a country gives money to certain businesses so that they can continue to compete with imports from other countries

when countries use trade barriers, like quotas or tariffs, to punish another country

A tax on exports

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