Unit:6-Formative #1-Vocab Flashcard-Int. Trade and Globalization

Unit:6-Formative #1-Vocab Flashcard-Int. Trade and Globalization

Assessment

Flashcard

Social Studies

12th Grade

Hard

Created by

Wayground Content

FREE Resource

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20 questions

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1.

FLASHCARD QUESTION

Front

The concentration of productive efforts of individuals or business.

Back

Specialization

2.

FLASHCARD QUESTION

Front

International trade left to its natural course without tariffs, quotas, or other restrictions.

Back

Free Trade

3.

FLASHCARD QUESTION

Front

The amount by which the value of a country's exports exceeds the cost of its imports.

Back

Trade Surplus

4.

FLASHCARD QUESTION

Front

Goods and Services sold to other countries.

Back

Exports

5.

FLASHCARD QUESTION

Front

Integration and interaction of business, cultures, and government among different nations. It is driven by international trade.

Back

Globalization

6.

FLASHCARD QUESTION

Front

The ability of a person or nation to produce a good or service at a lower cost than another person or nation.

Back

Absolute Advantage

7.

FLASHCARD QUESTION

Front

An official ban on trade or other commercial activity with a particular country.

Back

Embargo

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