LESSONNEW
International Trade
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9th grade
Social Studies
an hour ago by
Meeranath Premjith
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  • Slide 1
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    International Trade

    Class work

  • Question 2
    30 seconds
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    Q.

    Factorenowment means

    answer choices

    Available resources

    Scare resources

    Rare resources

  • Question 3
    30 seconds
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    Q.

    According to the law of comparative advantage, a nation should ____________________.

    answer choices

    specialize and export goods with the lowest average cost

    specialize and export goods with the lowest production cost

    specialize and export goods with the highest opportunity cost

    specialize and export goods with the lowest opportunity cost

  • Question 4
    45 seconds
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    Q.

    The U.S. Congress places a quota on sweaters made in Afghanistan. This decreases the number of sweaters America will purchase from Afghanistan. Which of the following would result from the change in quota for sweaters?

    answer choices

    The price of sweaters from Afghanistan sold in the U.S. will increase.

    The price of sweaters from U.S. sold in Afghanistan will increase.

    The price of sweaters from Afghanistan sold in the U.S. will remain the same.

    The price of sweaters from Afghanistan sold in the U.S. will decrease.

  • Question 5
    45 seconds
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    Q.

    Assume that all nations have low tariffs. Each country freely buys and sells to other countries. However, as a result of a rise in nationalism, each country imposes high tariffs. Which of the following would likely occur?

    answer choices

    Interdependence between nations will stay the same.

    Interdependence between nations will decrease.

    Standard of living in both nations will increase.

    Interdependence between nations will increase.

  • Question 6
    45 seconds
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    Q.

    The subsidy will create retaliation

    answer choices

    yes

    No

  • Question 7
    30 seconds
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    Q. What is absolute advantage of trade?
    answer choices
    Two countries produce distinctively different goods.
    Two countries produce comparable goods.
    A poorer country is more efficient at producing something than a rich country.
    One country produces more of everything than another country.
  • Question 8
    30 seconds
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    Q. Which of the following strategies involves increasing the supply of a product so much that its prices drops severely, forcing similar products out of the market?
    answer choices
    specialization
    dumping
    setting quotas
    trade restrictions
  • Question 9
    30 seconds
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    Q.

    Before goods enters a country they must meet a certain criteria. This is known as____________________

    answer choices

    Subsidy

    safe goods

    Standards

    non negotiable

  • Question 10
    30 seconds
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    Q.

    When a government orders a complete ban on trade with another country, that is an example of a/an

    answer choices

    embargo

    non export

    quota

    tariff

  • Question 11
    30 seconds
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    Q.

    A _____________ is a restriction on the amount of goods that can be imported into a country.

    answer choices

    Tariff

    Quota

    Embargo

    Non of the above

  • Question 12
    30 seconds
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    Q.

    Which of the following is a form of trade barrier?

    answer choices

    Quota

    Tarrif

    Embargo

    All of the above

  • Question 13
    30 seconds
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    Q.

    The exchange of goods and services between countries is know as?

    answer choices

    Domestic trade

    International trade

    Export

    Commerce

  • Question 14
    30 seconds
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    Q.

    To focus on producing one thing to improve productivity is known as:

    answer choices

    Specialization

    International trade

    Absolute Advantage

    Supply and Demand

  • Question 15
    20 seconds
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    Q.

    Define Tariff

    answer choices

    Tax placed on imports

    Quantity restrictions

  • Question 16
    60 seconds
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    Q.

    Identify the Traditional Non Tariff methods

    answer
    Quota
    alternatives
    Subsidy
    Exchange control
    Embargo
  • Question 17
    Ungraded
    30 seconds
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    Q.

    The government earns revenue from quota

    no correct answer

    yes

    No

  • Question 18
    45 seconds
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    Q.

    The embargo is due to political reason rather than economic

    answer choices

    True

    False

  • Question 19
    Ungraded
    180 seconds
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    Q.

    Define subsidy and explain its effects

  • Question 20
    45 seconds
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    Q.

    A tax placed on the monetary value of imports

    answer choices

    Advalorem

    Specific

    GST

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