International Trade Economics
Authored by Kevin Morales
Social Studies
10th - 12th Grade
Used 29+ times
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25 questions
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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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