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econ slo

Authored by Kaitlyn Hale

Social Studies

12th Grade

16 Questions

econ slo
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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A

B

C

D

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why would governments support trade barriers?

to close down domestic industries

to promote international competition

to help protect young domestic industries

to increase exports

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A main reason nations conduct international trade is because of differences in

Location

Resource availabilities

Tastes

Income

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

International trade in goods and services tends to increase the amount of competition facing home manufacturers

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The producer with the lowest opportunity cost.

Comparative Advantage

Trade Off

Absolute Advantage

Opportunity Cost

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

From the last question, who has the absolute advantage in tools?

Peru

U.S.

neither

not enough info

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Even if a country has the absolute advantage in all goods, they can still benefit from trade.

True

False

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