VA in a Global Economy Review

VA in a Global Economy Review

6th - 8th Grade

19 Qs

quiz-placeholder

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VA in a Global Economy Review

VA in a Global Economy Review

Assessment

Quiz

History

6th - 8th Grade

Hard

Created by

Krista Colvin

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19 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Worldwide markets in which the buying and selling of goods and services by all nations takes place is a -

global economy

local market
national market
regional market

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A reason states and nations trade is that they cannot

produce all goods and services at the same time
produce all goods and services efficiently on their own
rely solely on local resources
have access to unlimited resources

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A reason states and nations trade is to be able to buy goods and services at a

limited variety
lower price
same price
higher price

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A reason that states and nations trade is to create

cultural exchange

competition with foreign nations

monopolies that will control the marketplace

jobs and opportunities to work overseas

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Virginia and the United States specialize in the production of goods and services, which promotes

economic efficiency and growth
increased unemployment
reduced competition
higher prices

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Technological innovation means

a method of increasing technology costs.
the process of developing new or improved technologies.
the act of destroying old technologies.
the process of ignoring technological advancements.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A single business that controls the market for a good or service is known as a

oligopoly
cartel
duopoly
monopoly

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