International Trade

International Trade

12th Grade

20 Qs

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International Trade

International Trade

Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

Barbara MacFarlane

Used 31+ times

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20 questions

Show all answers

1.

DROPDOWN QUESTION

1 min • 1 pt

requiring or relying on something (a)  

dependent
absolute advantage
comparative advantage
specialization

2.

DRAG AND DROP QUESTION

1 min • 1 pt

the ability to produce a good or service more efficiently than another country can produce the same good or service (a)  

dependent
absolute advantage
comparative advantage
specialization

3.

DROPDOWN QUESTION

1 min • 1 pt

the ability to produce a good or service at a lower opportunity cost than another country (a)  

dependent
absolute advantage
comparative advantage
specialization

4.

DROPDOWN QUESTION

1 min • 1 pt

the act of limiting the kinds of goods and services produced (a)  

dependent
absolute advantage
comparative advantage
specialization

5.

DROPDOWN QUESTION

1 min • 1 pt

When one country has an absolute advantage in producing a product, then that country can typically benefit by (a)   that product.

exporting
importing
hording it for themselves

6.

DRAG AND DROP QUESTION

1 min • 1 pt

Remember that (a)   is the loss of potential gain from other alternatives when one alternative is chosen. (you may have to look it up?)

opportunity cost
comparative advantage
absolute advantage

7.

DRAG AND DROP QUESTION

1 min • 1 pt

If the opportunity cost for producing a particular good is lower for one country than for a second country, the first country has a (a)   for producing the good.

opportunity cost
comparative advantage
absolute advantage

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