What term describes the ability of a country to produce a good more efficiently than another country?

International Trade

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Others
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University
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Hard
Катерина Грекова
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Protectionism
Trade barriers
Absolute advantage
Comparative advantage
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following refers to the benefits gained from producing goods in larger quantities?
Generic
Quota
Economies of scale
Tariff
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for government-imposed restrictions on international trade?
Trademark
Supply chain
Protectionism
Free trade
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a limit on the amount of a product that can be imported?
Externalities
Absolute advantage
Quota
Tariff
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for the practice of selling goods in a foreign market at a price lower than their domestic price?
Grant a patent
Favour
Infant industry
Dumping
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which organization is responsible for regulating international trade agreements?
World Bank
European Union
International Monetary Fund
World Trade Organisation
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for the unintended side effects of an economic activity on unrelated third parties?
Better off
Externalities
Deliberately
Prosperous
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