
Comparative and Absolute advantage
Quiz
•
Business
•
8th Grade
•
Medium
Sherica Simmonds
Used 5+ times
FREE Resource
Enhance your content in a minute
12 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The producer that can produce the most output OR requires the least amount of inputs (resources)
Comparative Advantage
Trade Offs
Absolute Advantage
Opportunity Cost
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Joy gives 2 haircuts and 1 perm. Susie gives 3 haircuts and 2 perms. Who has the absolute advantage for haircuts?
Joy
Susie
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Ana takes 30 minutes to wash the dishes and one hour to vacuum the house. Her husband, Joe, takes 15 minutes to wash the dishes and 45 minutes to vacuum. Who has the absolute advantage for vacuuming?
Ana
Joe
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why do all societies have to make decisions about how resources will be used?
People are greedy
There are not enough resources for those who want them
Resources are too expensive for most people
Because there is a huge gap between the rich and poor
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which method of protection raises revenue for the government?
domestic subsidies
embargo
quota
tariff
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A tax or duty that raises the price of imported products is a .....
Quota
Tariff
Embargo
Subsidy
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A limit to the number of imports that may enter a country
tariff
embargo
demand
quota
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever
or continue with

Microsoft
%20(1).png)
Apple
Others
Already have an account?
Similar Resources on Wayground
10 questions
Public Limited Company
Quiz
•
8th - 11th Grade
12 questions
Discounts and Sale Price
Quiz
•
7th - 12th Grade
12 questions
Cottage Industry
Quiz
•
8th Grade - University
12 questions
Business organisations
Quiz
•
8th Grade
15 questions
QUIZ 3 : TOPIC 11 [INCOMPLETE RECORDS & SINGLE ENTRY]
Quiz
•
1st Grade - University
11 questions
Gradient quiz - HeLP
Quiz
•
4th Grade - University
17 questions
PF - Unit 2 Test
Quiz
•
8th Grade
17 questions
Grade 8 money quiz
Quiz
•
8th Grade
Popular Resources on Wayground
15 questions
Fractions on a Number Line
Quiz
•
3rd Grade
20 questions
Equivalent Fractions
Quiz
•
3rd Grade
25 questions
Multiplication Facts
Quiz
•
5th Grade
22 questions
fractions
Quiz
•
3rd Grade
20 questions
Main Idea and Details
Quiz
•
5th Grade
20 questions
Context Clues
Quiz
•
6th Grade
15 questions
Equivalent Fractions
Quiz
•
4th Grade
20 questions
Figurative Language Review
Quiz
•
6th Grade
