Comparative Advantage and Economic Concepts
Interactive Video
•
Mia Campbell
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Geography, History, Economics, Social Studies
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9th - 12th Grade
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Hard
07:09
10 questions
Show answers
1.
Multiple Choice
What caused Tasmania to become isolated from Australia around ten thousand years ago?
A volcanic eruption
Rising sea levels
Human migration
A massive earthquake
2.
Multiple Choice
What did the Europeans find when they discovered Tasmania in 1642?
A society with the simplest material culture
A thriving trade hub
A highly advanced civilization
A deserted island
3.
Multiple Choice
What is one of the surprising benefits of Comparative Advantage?
It eliminates the need for trade
It only benefits the more skilled individuals
It requires everyone to improve their skills
It allows for more production through specialization and trade
4.
Multiple Choice
In the example of Bob and Ann, what happens if Bob focuses only on gathering bananas and Ann on catching fish?
They both become less efficient
Total production increases
Total production remains the same
Total production decreases
5.
Multiple Choice
What is the opportunity cost for Bob when he chooses to gather a banana?
Three fish
Two fish
One fish
Four fish
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