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#6 Trade, Exchange Rates, Globalization, Economic Development

Authored by Barbara MacFarlane

Social Studies

12th Grade

Used 3+ times

#6 Trade, Exchange Rates, Globalization, Economic Development
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42 questions

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1.

DROPDOWN QUESTION

1 min • 1 pt

requiring or relying on something (a)  

dependent
absolute advantage
comparative advantage
specialization

2.

DROPDOWN 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.

DRAG AND DROP QUESTION

1 min • 1 pt

Media Image

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

dependent
absolute advantage
comparative advantage
specialization

4.

DRAG AND DROP 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

5.

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

6.

DRAG AND DROP QUESTION

1 min • 1 pt

Media Image

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.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Trade benefits all of the countries involved as long as they have __________ costs to produce goods.

different

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