Sem B Unit 6: The Global Game Board
Flashcard
•
Social Studies
•
10th - 12th Grade
•
Hard
Blake Ramsey
FREE Resource
Student preview

22 questions
Show all answers
1.
FLASHCARD QUESTION
Front
What can a country have with an international division of labor?
Back
specialized production
2.
FLASHCARD QUESTION
Front
Which conditions would allow Country A to have an absolute advantage over Country B in the production of textiles?
Back
Country A can manufacture textiles more cheaply.
3.
FLASHCARD QUESTION
Front
Under which circumstance would a country have a comparative advantage in the production of a certain good?
Back
It has a lower opportunity cost for production of that good.
4.
FLASHCARD QUESTION
Front
Why does the growth of international trade lead to a rising global standard of living?
Back
International trade enables specialization, which brings increased efficiency and greater competition.
5.
FLASHCARD QUESTION
Front
Why do protective tariffs lead to reduced international trade?
Back
Protective tariffs increase the price of goods and limit the sale of those goods.
6.
FLASHCARD QUESTION
Front
Why does globalization give countries an incentive to reduce wages for their workers?
Back
Lower production costs help lure foreign investment.
7.
FLASHCARD QUESTION
Front
Why do the actions of central banks have an important effect on the global economy?
Back
Control of the money supply determines how much money is available for international trade.
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