
Comparative and Absolute Advantage Concepts

Interactive Video
•
Business, Economics, Social Studies
•
10th Grade - University
•
Hard

Aiden Montgomery
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why do countries engage in international trade instead of producing everything domestically?
To increase the variety of goods available
To reduce the cost of production
To avoid political conflicts
To increase domestic employment
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for when a country can produce more of a good with the same resources compared to another country?
Comparative advantage
Absolute advantage
Economic advantage
Resource advantage
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the example given, which country has an absolute advantage in producing both computers and cameras?
Country A
Country B
Neither country
Both countries
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does comparative advantage focus on when comparing two countries?
The level of technology used
The amount of resources available
The opportunity cost of producing goods
The total output of goods
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which country has a comparative advantage in producing computers in the given example?
Country B
Country A
Both countries
Neither country
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the opportunity cost for Country B to produce one camera?
Two computers
One computer
Three computers
One third of a computer
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens to the total output when countries specialize in goods for which they have a comparative advantage?
It increases
It fluctuates
It remains the same
It decreases
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