Worksheetsglobalization
Total questions: 16
Worksheet time: 8mins
Name
Class
Date
1.
Sending goods to another country to sell.
a)
import
b)
export
2.
Bringing goods in from another country to sell.
a)
import
b)
export
3.
The development of a worldwide economy where resources flow fairly freely across borders.
a)
Globalization
b)
Economy
c)
GDP
d)
Economic Independence
4.
Mc Donald's is an example of a multinational corporation.
a)
true
b)
false
5.
The benefit or advantage of an economy to be able to produce a commodity at a lesser opportunity cost than other entities is referred to as
a)
Opportunity Cost
b)
Absolute Advantage
c)
Comparative Advantage
d)
Growth
6.
The nation's ability to produce general goods more efficiently than another entity is referred to as?
a)
Specialization
b)
Comparative Advantage
c)
Opportunity Cost
d)
Absolute Advantage
7.
A trade agreement between Canada, Mexico, and the US
a)
NAFTA
b)
EU
c)
WTO
d)
ABC
8.
This is a tax on imports that is used to increase price of foreign products and raise government revenue.
a)
tariff
b)
quota
c)
subsidy
d)
embargo
9.
This is the most restrictive of the trade restrictions a nation can use to close off all importation of a product.
a)
tariff
b)
quota
c)
subsidy
d)
embargo
10.
Not trading with nations who create products using child labor is used in the argument for
a)
Domestic Jobs
b)
National Defense
c)
Human Rights
d)
Environment
11.
Watches made in Norway are worn by people in California.
a)
import
b)
export
12.
Tires made in Tennessee factories are used on cars in Europe.
a)
import
b)
export
13.
Diamonds found in South Africa are used to make rings in Maine.
a)
import
b)
export
14.
Chairs made in North Carolina are flown to Mexico.
a)
import
b)
export
15.
Jewelry from Brazil is sold in stores in Utah.
a)
import
b)
export
16.
Baseball bats made in Kentucky are used by baseball players in Japan.
a)
import
b)
export
100 %
