PPC & Comparative Advantage

PPC & Comparative Advantage

11th - 12th Grade

14 Qs

quiz-placeholder

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PPC & Comparative Advantage

PPC & Comparative Advantage

Assessment

Quiz

Social Studies

11th - 12th Grade

Hard

Created by

Sarah Clark

Used 2+ times

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14 questions

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1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

What is opportunity cost?

a graph that shows how much an economy can produce between 2 goods
how much money something is
the opportunity one has to give up in order to gain something else
land, labor, capital, entrepreneurs

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the production possibilities curve?

a graph that shows how much an economy can produce between 2 goods
how much money something is
the opportunity one has to give up in order to gain something else
land, labor, capital, entrepreneurs

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The production possibilities curve is an illustration of what?

Opportunity costs and trade-offs
Only opportunity costs
Only trade-offs
none of the above

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A focus on developing only certain skills or producing only certain goods/services

Imports
Exports
Specialization
Globalization

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The measurable benefit of trade refers to

the gain in potential consumption for both partners that results from specialization and trade.

the gain received by the trading partner with the absolute advantage in both products.

the gain received by the trading partner with the comparative advantage in both products.

the terms of trade agreed upon by both trading partners.

The greater profits that global firms experience.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Who has the ABSOLUTE advantage in making bracelets?

Marie

Isabella

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Who has the ABSOLUTE advantage in making earrings?

Marie

Isabella

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