INTERNATIONAL TRADE

INTERNATIONAL TRADE

University

10 Qs

quiz-placeholder

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INTERNATIONAL TRADE

INTERNATIONAL TRADE

Assessment

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University

Hard

Created by

Dr. K

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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who is the father of the theory of absolute advantage?

Adam Smith

David Ricardo

Heckscher

Ohlin

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Comparative Advantage theory is based on the concept of:

Equal productivity

Minimum trade restrictions


Opportunity cost


Product life cycle

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The theory of comparative advantage was given by:

Karl Marx


Adam Smith


David Ricardo


John Maynard Keynes

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Heckscher-Ohlin theory explains trade based on:

Economies of scale


Technological innovation



Consumer preferences


Factor endowments (labour and capital)

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to Mercantilism, a country should:

Import more than it exports

Specialize in one product


Maintain a trade surplus


Trade only with colonies

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Product Life Cycle Theory was developed by:

. Michael Porter

Adam Smith


Raymond Vernon

David Ricardo

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT an assumption of Ricardian theory of comparative advantage?

Capital mobility between countries

Technological differences exist


Constant returns to scale

Labour is the only factor of production

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