International Trade

International Trade

12th Grade

37 Qs

quiz-placeholder

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International Trade

International Trade

Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

Joe Carroll

Used 52+ times

FREE Resource

37 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A good or service brought in from another country for sale.
import
export 
tariff

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The principle that a country benefits from specializing in the production at which it is relatively most efficient thus has the comparative advantage.  This is true because of lower opportunity costs

Law of Comparative Advantage

Globalization

Law of Incresing Costs

Exports

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When one country can produce a good more efficiently than another country.  The ability to produce more of a given product using a given amount of resources

Globalization

Absolute Advantage

NAFTA

Fair Trade

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Goods and services produced in one country and sold to other countries

Imports

Trade Deficit

Tariff

Exports

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Goods and services consumed in a country but which have been purchased from other countries

Trade Surplus

Imports

Globalization

Quota

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a countries imports exceeds its exports

Trade Deficit

Quota

Globalization

Imports

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a countries exports exceeds its imports

Trade Deficit

Trade Surplus

Free Trade

Currency Appreciation

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