Trade theories International Business Grade 12

Quiz
•
Business
•
12th Grade
•
Easy
Goloshchapova Lana
Used 4+ times
FREE Resource
36 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Theory of Absolute advantage was developed by
David Ricardo
Adam Smith
Michael Porter
Mr Preston
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Theory of Comparative advantage was developed by
David Ricardo
Adam Smith
Michael Porter
Mr Preston
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To focus on producing one thing to improve productivity is known as
International Trade
Specilisation
Absolute Advantage
Supply and Demand
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When determining comparative advantage one must determine
Opportunity Cost
Absolute Advantage
Specilisation
International Trade
5.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
1. Mercantilism is the earliest theories on international trade.
TRUE
FALSE
6.
MULTIPLE SELECT QUESTION
30 sec • 10 pts
Countries adopting mercantilism:
favour trade surplus
favour trade deficit
encourage import more than export
encourage export more than import
7.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
The followings are true about Mercantilism EXCEPT:
It believes that national prosperity is the result of a positive balance of trade.
It lead to a situation of zero sum game for some nations.
The mercantilist government see import as good and export as bad.
Mercantilist countries colonized other countries to gain resources and market finished goods.
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