
Comparative Advantage

Quiz
•
Social Studies
•
12th Grade
•
Medium
Chris Swanson
Used 246+ times
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Labor, human capital, entrepreneurship, natural resources, and capital are all examples of which of the following?
Outputs
Substitutes in Production
Absolute Advantage
Productive resources
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The U.S. can produce 30 toys and 15 beds. Canada can produce 10 toys and 12 beds. Who has the absolute advantage in toys?
Peru
U.S.
neither
not enough info
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The nation's ability to produce more general goods than another entity is referred to as
Specialization
Comparative Advantage
Opportunity Cost
Absolute Advantage
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
To figure out a nation's comparative advantage, you compare their _________ to other entities
Absolute Advantage
Opportunity Cost
Resource
Revenue
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