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WorksheetsInternational Trade
Total questions: 12
Worksheet time: 7mins
Name
Class
Date
1.
To focus on producing one thing to improve productivity is known as:
a)
Specialization
b)
International trade
c)
Absolute Advantage
d)
Supply and Demand
2.
When determining comparative advantage one must determine
a)
Opportunity cost
b)
Specialization
c)
Absolute Advantage
d)
Embargos
3.
If I am better at all types of production, I have the ______ in all forms of production.
a)
Comparative advantage
b)
Specialization
c)
Absolute advantage
d)
developed nation
4.
A trade agreement between 27 countries of with the same currency and open trade between those nations.
a)
NAFTA
b)
EU
c)
WTO
d)
ABC
5.
A trade agreement between Canada, Mexico, and the US
a)
NAFTA
b)
EU
c)
WTO
d)
ABC
6.
If nations limit trade in of clothing who will benefit?
a)
Domestic Consumers of clothing
b)
Domestic producers of clothing
c)
Foreign Producers of clothing
d)
department stores who sell clothing
7.
A major cost of freer trade from poor nations is that they will
a)
get cheaper stuff
b)
they will get more stuff
c)
environmental damage
d)
greater variety of stuff
8.
Developed nations have all of the following except
a)
better education
b)
high levels of technology
c)
better health
d)
higher populations
9.
Underdeveloped nations tend to trade what type of goods
a)
Low skill products
b)
High tech goods
c)
finished products
d)
High skill products
10.
1.Which of the following is not part of the arguments about trade protection?
a)
The national security
b)
A souree of the government revenue
c)
The potential for corruption
d)
The protection of domestic jobs
11.
The infographic above describes the pros and cons for which of the following ideas?
a)
Foreign Direct Investment
b)
Microcredit
c)
Economic Geography
d)
Transnational Corporations
e)
Fair Trade
12.
This benefit tends to increase at a much greater rate than the growth in world trade, helping boost technology transfer, industrial restructuring, and the growth of global companies.
a)
Economies of scale
b)
Foreign Direct Investment
c)
Technological Innovation
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