International Trade Economics

International Trade Economics

10th - 12th Grade

25 Qs

quiz-placeholder

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International Trade Economics

International Trade Economics

Assessment

Quiz

Social Studies

10th - 12th Grade

Medium

Created by

Kevin Morales

Used 27+ times

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25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Export means

buying goods from another country
selling goods to another country
only making one kind of product

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Import means

buying goods from another country
selling goods to another country
only making one kind of product

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

To focus on producing one thing to improve productivity is known as:

Specialization
International trade
Absolute Advantage
Supply and Demand

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When determining comparative advantage one must determine 

Opportunity cost
Specialization
Absolute Advantage
Embargos 

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If I am better at all types of production, I have the ______ in all forms of production.

Comparative advantage
Specialization
Absolute advantage
developed nation

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A trade agreement between 27 countries of with the same currency and open trade between those nations.

NAFTA
EU
WTO
ABC

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A trade agreement between Canada, Mexico, and the US

NAFTA
EU
WTO
ABC

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