International Economics

International Economics

Assessment

Flashcard

Social Studies

11th - 12th Grade

Hard

Created by

Wayground Content

FREE Resource

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27 questions

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1.

FLASHCARD QUESTION

Front

the ability of an individual, a firm, or a country to produce more of a good or service than competitors, using the same amount of resources

Back

Absolute Advantage

2.

FLASHCARD QUESTION

Front

NOT argument for free trade: domestic job security, national economic security, infant industries, open competition

Back

open competition

3.

FLASHCARD QUESTION

Front

NOT an argument for free trade: improved products, export industries, specialization & comparative advantage, reduced competition

Back

reduced competition

4.

FLASHCARD QUESTION

Front

What is ASEAN?

Back

Association of Southeast Asian Nations

5.

FLASHCARD QUESTION

Front

A record of all transactions between the residents of a country and the residents of all other countries, over a period of time.

Back

balance of payments

6.

FLASHCARD QUESTION

Front

the difference between a country's total exports and total imports

Back

Balance of Trade

7.

FLASHCARD QUESTION

Front

The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than other producers.

Back

Comparative Advantage

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