International Trade Test

International Trade Test

8th Grade

30 Qs

quiz-placeholder

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International Trade Test

International Trade Test

Assessment

Quiz

Business

8th Grade

Practice Problem

Easy

Created by

Pedro Luis Capote

Used 26+ times

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30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is international trade?

The exchange of goods within a country

The exchange of capital, goods, and services across international borders

The process of manufacturing goods

The distribution of products within cities

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which factor has NOT contributed to the rapid growth of international trade?

Technological advancements

Trade agreements

Local transportation systems

Communication innovations

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is globalization?

The process of selling goods only within one's own country

The decreasing connection between world economies

The growing interdependence of world economies, cultures, and populations

The isolation of national markets

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which statement best describes exports?

Goods and services bought from other countries

Goods and services produced and sold to other countries

Products stored within a country

Services used only by domestic consumers

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is absolute advantage?

The ability to produce all types of goods

The ability to produce a good at a lower cost than another country

The ability to export more than import

The ability to create trade barriers

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is comparative advantage?

Having the most advanced technology

Having the largest workforce

Considering opportunity costs when choosing what to produce

Having unlimited natural resources

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is a benefit of international trade?

Decreased consumer choices

Higher prices for all goods

Greater variety of goods for consumers

Limited market access

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