
Principles 1A Unit 6 Quiz
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11th Grade
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15 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
John works as a website designer and for a fee will perform tasks that help clients create or redesign their websites. In other words, John is providing what for each client?
a deficit
an export
an import
a service
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What country holds the comparative advantage over the United States when it comes to creating labor-intensive products such as clothing, cell phones, and other products that require hand assembly thanks to the abundance of relatively low-cost, low-wage labor available?
Switzerland
China
Great Britain
Japan
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What 19th-century English economist proposed that countries would become better trading partners and support a wealthier population if they exported what they could produce at a competitive cost and import what they couldn’t?
David Ricardo
Frank Geller
Joey Bassett
Johan Palmstruch
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Goods and services manufactured in one country and sold in another are best referred to as _____ in the country of manufacture.
deficits
services
imports
exports
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Where can a country turn to formally complain about another nation’s trade policies and practices and work toward resolution?
INTERPOL
World Trade Organization
United Nations
International Red Cross
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Due to very affordable prices at the grocery store, combined with an increasingly diverse population and a changing American palate, what happened to the demand for limes in the 1980s?
It remained the same.
It declined rapidly.
It grew steadily.
It declined slowly.
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
In April 2018, Ford Motor Company made a decision about their opportunity costs moving forward and announced they will focus future production on SUVs, pickup trucks, and commercial vehicles rather than passenger cars. This decision was driven by a desire to make the company more profitable in light of:
falling sales revenue in their automobile line.
growing sales revenue in their automobile line.
the environmental benefit of SUVs.
the profitability of selling more pickup trucks.
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