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Resource <3/ economic acticities <3
Types of advantages <3
world trader organization <3/ currency exchange <3
International Trade <3
Buisness Cycle<3
100
Jane’s Steakhouse offers several dishes that may include whole wheat, corn, or beef. Which type of resource is included in the dishes? A. Capital B. Human C. Natural D. Service
C. Natural <3
100
United States has become globally known for its production of wheat more resourcefully. It can produce the product with less human resources. This is an example of what type of ADVANTAGE? A. Absolute B. Comparative C. Competitive D. Dual advantage
B. Comparative <3
100
An organization assisted two countries on settling a trade disagreement on tariffs. This action is an example of assistance provided by which international trade organization? A. International Monetary Fund B. Joint Venture C. World Bank D. World Trade Organization
D. World Trade Organization <3
100
Syria is banned from selling products within other countries. This is an example of which international trade barrier? A. Embargoes B. Free-trade zones C. Quotas D. Tariffs
A. Embargoes <3
100
A report covering several quarters about the economy includes that more companies are experiencing record high production and adding new employees. Also, wages and the rate of GDP are increasing significantly. Which phase of the business cycle does this report describe? A. Depression B. Prosperity C. Recession D. Recovery
B. Prosperity <3
200
John specializes in leasing commercial buildings to manufacturing companies. In which type of resource does he specialize? A. Capital B. Human C. Natural D. Service
A. Capital <3
200
Alaska produces more salmon by the pound than any other state that exports salmon. This is an example of what type of ADVANTAGE? A. Absolute B. Comparative C. Competitive D. Dual
A. Absolute <3
200
An organization assisted two countries on settling a trade disagreement on the amount of bananas to be traded. This action is an example of assistance provided by which international trade organization? A. International Monetary Fund B. Joint Venture C. World Bank D. World Trade Organization
D. World Trade Organization <3
200
Due to the high volume of travelers visiting the United Kingdom, the country has set up duty-free shops in highly visited areas. This is an example of which encouragement of international trade? A. Embargo B. Free-trade agreement C. Free-trade zone D. Tariff
C. Free-trade zone <3
200
A report covering four quarters about the economy includes that more companies are experiencing less production and reducing the number of employees. Which phase of the business cycle does this report describe? A. Depression B. Prosperity C. Recession D. Recovery
C. Recession <3
300
Duke Energy Power Company uses water to power the area. Which resource is Duke Energy Power using? A. Capital B. Human C. Natural D. Service
C. Natural <3
300
Aruba has become globally known for its white sandy beaches. It is relied upon by many travelers from other countries to enjoy its beaches at a reasonable cost. This is an example of what type of ADVANTAGE? A. Absolute B. Comparative C. Competitive D. Dual
A. Absolute <3
300
If a country is in a civil war and its government changes abruptly, this is an example of which factor that influences international currency exchange? A. Balance of payments B. Balance of trade C. Economic conditions D. Political stability
D. Political stability <3
300
The North American Free Trade Association (NAFTA) eliminates tariffs and embargoes among its members while trading goods and services. This is an example of which encouragement of international trade? A. Embargo B. Free-trade agreement C. Free-trade zone D. Tariff
B. Free-trade agreement <3
400
Department stores report monthly to the state commerce office its total sales of goods and services. This information would be useful for which measurement of economic activities? A. Borrowing B. Consumer spending C. Investment activities D. Labor activities
B. Consumer spending <3
400
Which is an example of a company establishing supply? A. Ann Jones Clothing Store upgrades its equipment regularly. B. Reebok footwear company is trying to attract more middle-aged customers. C. Sears Department Store displays fewer lawn mowers. D. Walmart sends only five touch screen computers to each store.
D. Walmart sends only five touch screen computers to each store. <3
400
If China has rising interest rates and inflation occurring across the country, this is an example of which factor that influences international currency exchange? A. Balance of payments B. Balance of trade C. Economic conditions D. Political stability
C. Economic conditions <3
400
Several Prime Ministers of East African countries are negotiating the trade of products and services throughout the Eastern region. This is an example of which encouragement of international trade? A. Common markets B. Embargo C. Free-trade zone D. Tariff
A. Common markets <3
500
Mary is proud of saving over $43,000 in a bank. She knows that her saving money at the bank will provide funds for others to borrow money. This information would be useful for which measurement of economic activities? A. Borrowing B. Consumer spending C. Investment activities D. Labor activities
C. Investment activities <3
500
Brandon’s Towing Company added flat tire replacement services. Which economic question does this address? A. For whom to produce? B. How to produce? C. What to produce? D. When to produce?
C. What to produce? <3
500
Which is an example of consumers establishing demand? A. The department store changing its staff B. The footwear company moving in its new building C. The purchase of iPhone applications increasing daily D. The wait to return recalled equipment decreasing daily
C. The purchase of iPhone applications increasing daily <3
500
An organization assisted two countries on settling a trade disagreement on the amount of bananas to be traded. This action is an example of assistance provided by which international trade organization? A. International Monetary Fund B. Joint Venture C. World Bank D. World Trade Organization
D. World Trade Organization <3
500
An example of a value for a market economy is a: A. central leadership group expecting all the profit from production. B. local company choosing to produce gaming software. C. local group believing in following traditions at work. D. local group producing televisions the same way through the years
B. local company choosing to produce gaming software. <3