Unit 4: Global Economics Review

Unit 4: Global Economics Review

12th Grade

29 Qs

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Unit 4: Global Economics Review

Unit 4: Global Economics Review

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Medium

Created by

Josh Winicki

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29 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Occurs when production is focused on one or a few goods/services

Specialization

Absolute advantage

Comparative advantage

Opportunity cost

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

When a country can produce more of a product than another country

Specialization

Absolute advantage

Comparative advantage

Opportunity cost

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

When a country can produce a product at a lower opportunity cost

Specialization

Absolute advantage

Comparative advantage

Opportunity cost

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The sacrifice of the next best alternative

Specialization

Absolute advantage

Comparative advantage

Opportunity cost

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A tax on imported goods

Tariff

World Trade Organization (WTO)

Free traders

Protectionists

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Organization that seeks to remove trade barriers and promote economic development

Tariff

World Trade Organization (WTO)

Free traders

Protectionists

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

People who prefer no, or few, trade restrictions

Tariff

World Trade Organization (WTO)

Free traders

Protectionists

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