
Global Market
Authored by Severus Snape
Business
10th Grade
Used 3+ times

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39 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Globalization involves:
Trade across two or more countries
A shift towards a more integrated world economy
Trade in services as well as goods
A standardization of culture and beliefs
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Absolute advantage is based on:
Resource abundance
Resource exclusivity or factor productivity
Natural resources
Military power
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Comparative advantage is based on:
Technical expertise
Relative opportunity cost
Management expertise
Political power
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When countries engage in trade, they specialize in goods where they have a
_______ advantage:
Competitive
Absolute
Comparative
Exclusive
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The balance of trade is the difference between a country's:
Exports and imports
Production and consumption
Export contracts and import contracts
Domestic trade and international trade
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A trade deficit occurs when a nation:
Exports more than it imports
Imports more than it exports
Has more foreign direct investment outflow than inflow
Has more private foreign investors than public ones
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Balance of payments includes all external transactions except:
Exports and imports
Foreign investments
Domestic consumption
Financial transfers
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