Search Header Logo

Global Business (Chapter 3)

Authored by Bryan Toth

Social Studies, Business

12th Grade

Used 6+ times

Global Business (Chapter 3)
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

44 questions

Show all answers

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

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?