About us
Our services
Essay topics and ideas
Custom essay writing
Flashcards and Quizzes
Tools
Thesis statement generator
Alphabetizer
Conclusion Generator
Essay Rewriter
Free plagiarism checker
Paraphrasing Tool
Read My Essay
Log in
Sign up
Science
Economics
International Trade
Please enter something
FIND ESSAY
International Trade
Issac Walker
18 October 2022
4.7
(114 reviews)
10 test answers
Unlock all answers in this set
Unlock answers
(6)
question
A country that can produce a good more efficiently than another country has with the same number of resources has the
answer
an absolute advantage.
question
The United States is said to have an absolute advantage in producing food compared with Japan. What does that mean?
answer
It produces food more efficiently than Japan.
question
Which situation might cause a country to specialize?
answer
wheat production in a region with fertile soil
question
Which is the best example of a country that is dependent on other countries?
answer
a country that has little fertile soil
question
What role does competition play in international trade?
answer
It drives down prices for consumers.
question
When a country chooses to limit the kinds of goods or services it produces, it is practicing
answer
specialization.
question
Why would a country want to establish absolute advantage?
answer
to produce goods while using fewer resources than any other country
question
A country with an absolute advantage can produce a good or service
answer
more efficiently than another country.
question
How does international trade best benefit specialization?
answer
A country can make and sell goods affordably and buy goods it cannot make.
question
Which region specializes in diamonds?
answer
Sub-Saharan Africa
Haven't found what you need?
Search for quizzes and test answers now
Please enter something
Find answers
Quizzes.studymoose.com uses cookies. By continuing you agree to our cookie policy