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Voluntary Trade

Authored by John Robinson

Social Studies

6th Grade

Voluntary Trade
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15 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Voluntary trade occurs when countries choose to engage in the _________ with one another.

money

exchange of goods

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Trade barriers are natural or man-made _______.

obstacles to voluntary trade

rivers

roads

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Voluntary trade is based on the principle of _______.

mutual benefit

competition

monopoly

coercion

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is a benefit of voluntary trade?

Increased tariffs

Access to a variety of goods

Decreased competition

Higher prices

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Voluntary trade can lead to _______ between countries.

conflict

cooperation

isolation

war

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A country specializes in producing goods it can make efficiently and trades for goods it cannot produce as efficiently. This is known as _______.

absolute advantage

comparative advantage

trade deficit

protectionism

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is NOT a characteristic of voluntary trade?

Mutual agreement

Coercion

Exchange of goods

Benefit to both parties

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