International Test Review
Authored by stacey jackson
Business
12th Grade
Used 26+ times
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25 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is the driving force for international trade and dictates what countries should produce and who they should trade with?
Comparative Advantage
Absolute Advantage
Exchange Rate
Trade Blocs
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a nation can produce more of a given product using a given amount of resources.
Comparative Advantage
Absolute Advantage
Exchange Rate
Free Trade
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Sending goods and services to another country for sale.
import
exchange rate
export
net imports
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Nation's ability to produce a product most efficiently given all the other products that could be produced (less opportunity cost)
Comparative Advantage
Absolute Advantage
Exchange Rate
Free Trade
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Permitting the people and businesses of a country to buy and sell where they please without government restrictions.
Exchange Rates
Protectionism
Free Trade
Competitive Advantage
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a country imports more than it exports.
Trade Balance
Trade Deficit
Trade Surplus
Net Exports
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Bring goods and services into a country from another nation for sale.
Import
Exchange Rate
Export
Subsidy
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