AnswersEAP-Virginia and US Government BProblem Solving in Social Studies

6.3 International Trade Answers

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A company in Maine sends lobsters to France. What is Maine doing? Select three options. importing productspracticing international tradeexporting productsparticipating in globalizationending their specialization

A
importing products
B
practicing international trade
C
exporting products
D
participating in globalization
E
ending their specialization
2
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Which is an example of a country that is overly dependent on another country for critical goods and services?

A
a country that imports all its oil
B
a country that imports all of its luxury goods
C
a country that licenses some television shows
D
a country that has some international businesses
3

Which region specializes in diamonds?

A
Central America
B
Middle East
C
Europe
D
Sub-Saharan Africa
4

What is the benefit in reaching the absolute advantage in the production of one good?

A
to produce more units of a good than other countries
B
to produce fewer units of a good than other countries
C
to produce more units of a good while using fewer resources
D
to produce fewer units of a good while using fewer resources
5

What kind of advantage does a country have if it can make a product more efficiently?

A
an import advantage.
B
an export advantage.
C
a comparative advantage.
D
an absolute advantage.
6

How does specialization enable countries to trade with one another?

A
A country can make and sell goods affordably and buy goods that it is inefficient at making.
B
A country can make what it chooses and sell its goods to other countries.
C
A country can decide to buy everything it needs from other countries.
D
A country can efficiently make goods that were once difficult to make.
7

Which region is most likely to export bananas to the United States?

A
Europe
B
Central America
C
Middle East
D
Asia
8

Which situation is the best example of opportunity cost?

A
A country chooses to produce bananas instead of wheat.
B
A country chooses to invest in manufacturing and agriculture.
C
A country chooses to specialize in producing paper products.
D
A country chooses to export all of its products.
9

Which statement best describes how globalization is affecting the world?

A
Globalization is growing less important as time passes.
B
The world is becoming more globalized and connected.
C
Globalization has resulted in fewer connections among countries.
D
Countries are growing less likely to trade with one another.
10

How does specialization enable countries to trade with one another?

A
A country can make and sell goods affordably and buy goods that it is inefficient at making.
B
A country can make what it chooses and sell its goods to other countries.
C
A country can decide to buy everything it needs from other countries.
D
A country can efficiently make goods that were once difficult to make.

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