Intro to Bus. 2.3, 3.1, 3.2 Quiz Review

Intro to Bus. 2.3, 3.1, 3.2 Quiz Review

9th - 12th Grade

30 Qs

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Intro to Bus. 2.3, 3.1, 3.2 Quiz Review

Intro to Bus. 2.3, 3.1, 3.2 Quiz Review

Assessment

Quiz

Business

9th - 12th Grade

Practice Problem

Medium

Created by

Stacy Shiffner

Used 3+ times

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30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

International business refers to the business activities needed to perform all of the following for goods and services EXCEPT

Creating

Shipping

Selling

Donating

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The United States has many natural resources, a skilled labor force, and modern production facilities.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a country can produce a good or service at a lower cost from other countries it is called what?

Flexible Advantage

Absolute Advantage

Relative Advantage

Partial Advantage

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Comparative advantage is a situation in which a country specializes in the production of a good/service at which it is relatively more efficient.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The balance of payments is the difference between the amount of money that comes into a country and the amount that goes out of it.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a positive balance of payments?

Taking more money in than paying

Taking in an equal amount as what you’re losing

Taking in less than what you’re paying

When a government does not do international trade

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Tariffs and Quotas are examples of trade barriers.

True

False

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