Global Business (Chapter 3)
Quiz
•
Social Studies, Business
•
12th Grade
•
Medium
Bryan Toth
Used 6+ times
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44 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
International trade is defined as the,
process by which businesses address supply and demand issues on an international stage
process whereby each country trades the surplus goods and services it produces most efficiently for products in short supply
process whereby goods and services are transported on big boats to other nations
relationships of states with each other and with international organizations and certain subnational entities
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
International trade has increased steadily since,
World War I
World War II
the Korean War
the Vietnam War
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Some countries are better equipped than others to produce a particular good or service. The ability to produce a specific product more efficiently while using less resources than any other nation is known as (an),
absolute advantage
comparative advantage
national trade supremacy
product dominance
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Some countries are better equipped than others to produce a particular good or service. The ability to produce a specific product more efficiently than any other product is known as (an),
absolute advantage
comparative advantage
national trade supremacy
product dominance
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Importing and exporting are the principal activities in international trade. Exporting is defined as,
purchasing raw materials or products in other nations and bringing them into one’s own country
selling and shipping raw materials or products to other nations
the exchange of goods and services between countries
the total value of exports minus the total value of imports
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Importing and exporting are the principal activities in international trade. Importing is defined as,
purchasing raw materials or products in other nations and bringing them into one’s own country
selling and shipping raw materials or products to other nations
the exchange of goods and services between countries
the total flow of money into a country minus the total flow of money out of the country
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Exporting and importing activities gave rise to a concept called the balance of trade, which is defined as,
the international exchange of goods and services between countries
the purchasing of raw materials or products in other nations and bringing them into one’s own country
the total flow of money into a country minus the total flow of money out of the country
the total value of exports minus the total value of imports over some period of time
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