Chapter 9 Review

Which two actions will a country most likely take when it has plenty of iron ore, but it needs aluminum?

• It will decrease steel production and bargain for aluminum.

• It will specialize in steel production and forgo aluminum.

• It will specialize in steel production and trade for aluminum.

• It will outsource steel production and negotiate for aluminum.

Which reality leads countries to specialize in producing a limited number of goods or services?

• Some countries have unlimited resources, which leads to thriving trade.

• No country has unlimited resources, so countries need to buy the resources they lack.

• Some countries have unlimited resources, and other countries must specialize to survive.

• No country has unlimited resources, so countries must be efficient with those resources that are plentiful.

Match each term with its definition.

• goods and services bought and brought in from other countries

• trading partners

• when countries or regions depend upon one another

• imports

• countries and regions that trade with each other

• interdependent

• goods and services sold and shipped to other countries and regions

• exports

• the trade of goods and services between countries of the world

• global trade

Why would a country choose to import a resource that it already has?

• It may want to produce more than its supply allows.

• It might want to support the economy of the trading partner.

• It might hope the other country will buy its finished products.

• It might be cheaper to buy the resource from the other country than to produce it.

Which two specializations show the greatest potential in Liberia? (Choose 2)

• iron ore

• coffee

• hydroelectric power

• diamonds

• forest products

Number the countries from most likely (1) to least likely (4) to specialize in creating new high-tech industries.

Groups:

(a) 1

,

(b) 2

,

(c) 3

,

(d) 4

• South Korea

• Japan

• Egypt

• Malta

Which pair of countries is likely to become trading partners?

• A. China and Japan

• B. China and Russia

• C. China and Malaysia

• D. Indonesia and Japan