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Home Page Social Science Economics Applied Economics Goods And Services AZ-Economics Global Economics (International Trade) - Flashcards

AZ-Economics Global Economics (International Trade) – Flashcards

Daphne Armenta
7 July 2022
10 test answers

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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 is the best example of opportunity cost?
answer
A country that chooses to export bananas but not wheat.
question
Which statement best describes how globalization is affecting the world?
answer
The world is becoming more globalized and connected.
question
Which is the best example of a country that is dependent on other countries?
answer
a country that has little fertile soil
question
Which situation might cause a country to specialize?
answer
wheat production in a region with fertile soil
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question
A company in Maine sends lobsters to France. What is this an example of?
answer
exporting
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question
Which region specializes in diamonds?
answer
Sub-Saharan Africa
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question
A country that makes a product more inexpensively and efficiently than another country has
answer
an absolute advantage.
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question
Which region is most likely to export bananas to the United States?
answer
Central America
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question
What might be the best decision for Country A?
answer
focus on the petroleum industry only
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Question
What is the right structure for an essay
Answer
A paragraph is a related group of sentences that develops one main idea. Each paragraph in the body of the essay should contain:
  • a topic sentence that states the main or controlling idea
  • supporting sentences to explain and develop the point you’re making
  • evidence from your reading or an example from the subject area that supports your point
  • analysis of the implication/significance/impact of the evidence finished off with a critical conclusion you have drawn from the evidence.