_______ _______ states that a country should sell to other countries those products that it produces most effectively and efficiently and should buy from other countries those products that it cannot produce as effectively or efficiently.
Doing Business in a Global Market

Quiz
•
Business
•
University
•
Hard
Lourdes Ramboa
Used 22+ times
FREE Resource
24 questions
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1.
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1 min • 5 pts
2.
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1 min • 5 pts
_______ _______ is the advantage that exists when a country is able to produce a specific product more efficiently than all other countries
3.
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45 sec • 5 pts
A nation’s_______________ ______ _______________is the difference in value between its exports and imports.
4.
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1 min • 5 pts
What was the last year that the balance of trade was a positive number for the United States?
5.
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1 min • 5 pts
This country left the European Union in January, 2020?
6.
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1 min • 5 pts
An __________is a tax levied by a nation on goods imported into the country
7.
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1 min • 1 pt
An ________prohibits trade in a particular product.
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