International Econ Assignment

International Econ Assignment

12th Grade

17 Qs

quiz-placeholder

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International Econ Assignment

International Econ Assignment

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Medium

Created by

Bradley Hunt

Used 10+ times

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17 questions

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1.

OPEN ENDED QUESTION

3 mins • Ungraded

Name

Evaluate responses using AI:

OFF

2.

MULTIPLE CHOICE QUESTION

3 mins • Ungraded

Period

1st

3rd

4th

3.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Ability of a country to produce more of a product with the same amount of resources or using resources more efficiently to produce an item.

Trade Offs
Interdependence
Absolute Advantage
Comparative Advantage

4.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Ability of a country to produce a product at lower opportunity cost

Trade Offs
Interdependence
Absolute Advantage
Comparative Advantage

5.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

The basis for international trade stems from

Bartering
Absolute Advantage
Comparative Advantage
Macroeconomics

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Lauren owns a bakery. She is very good at what she does. In one hour she can decorate 5 cakes or make 20 pies. Her business is growing and she needs to hire someone to help make the cakes and pies. Blake has applied for the job and seems like a reliable individual. In one hour he can decorate 4 cakes or make 8 pies. Lauren plans to hire Blake. Since Lauren can decorate more cakes in one hour and make more pies in an hour than Blake, she has a dilemma. Should she have Blake decorate cakes or make pies?

Based on the information above, which statement is true?

Lauren has an absolute advantage producing both items.
Blake has an absolute advantage producing both items.
Lauren has a comparative advantage producing both items.
Blake has a comparative advantage producing both items.

7.

MULTIPLE SELECT QUESTION

5 mins • 1 pt

Lauren owns a bakery. She is very good at what she does. In one hour she can decorate 5 cakes or make 20 pies. Her business is growing and she needs to hire someone to help make the cakes and pies. Blake has applied for the job and seems like a reliable individual. In one hour he can decorate 4 cakes or make 8 pies. Lauren plans to hire Blake. Since Lauren can decorate more cakes in one hour and make more pies in an hour than Blake, she has a dilemma. Should she have Blake decorate cakes or make pies? Based on the information above, which statements are true? (Choose two)

Lauren has a comparative advantage decorating cakes.
Lauren has a comparative advantage baking pies.
Blake has a comparative decorating cakes.
Blake has a comparative advantage baking pies

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