FAC#4 | Unit 3

FAC#4 | Unit 3

7th Grade

13 Qs

quiz-placeholder

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FAC#4 | Unit 3

FAC#4 | Unit 3

Assessment

Quiz

Social Studies

7th Grade

Medium

Created by

Aaron Bontrager

Used 40+ times

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13 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Which statement best explains the importance of voluntary trade?

helps people get access to resources, technology, and products
helps countries control the people and economy
hinders countries imposing tariffs
promotes world peace

2.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

What makes trade among countries voluntary?

it is forced
the countries trade willingly
the trade threaten
the trade is demanded

3.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Which of the following encourages international trade?

trade barriers
tariiffs
specialization
quotas

4.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

What is an exchange rate?

its a percentage owed
its a loan needed to do trade
determines length of trade terms
determines the value of one currency compared to another

5.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Which of the following is an example of voluntary trade?

Japan exports electronics in exchange for South Korean cars.
North Korea charges a tariff on exports to South Korea
Egypt banning the import of livestock from Sudan.
Venezuela's embargo on Colombian goods.

6.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

What is currency?

debt
money
liability
loans

7.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

If a country's currency weakens then...

demand weakens
its imports become cheaper
its exports become cheaper and demand increases
its exports become expensive and demand goes down

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