International Trade

Question 1

Which is the best example of a country that is dependent on other countries?

Revolt · Accepted Answer

a country that has little fertile soil

Question 2

Why do most countries both export and import goods?

Revolt · Accepted Answer

to get a good mix of goods and services

Question 3

Which is an example of a country that is overly dependent on another country for critical goods and services?

Revolt · Accepted Answer

a country that imports all its oil

Question 4

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

Revolt · Accepted Answer

Central America

Question 5

Which statement best describes how globalization is affecting the world?

Revolt · Accepted Answer

The world is becoming more globalized and connected.

Question 6

What role does competition play in international trade?

Revolt · Accepted Answer

It drives down prices for consumers.

Question 7

A country with an absolute advantage can produce a good or service

Revolt · Accepted Answer

more efficiently than another country.

Question 8

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

Revolt · Accepted Answer

an absolute advantage.

Question 9

Which region specializes in diamonds?

Revolt · Accepted Answer

Sub-Saharan Africa

Question 10

How does specialization enable countries to trade with one another?

Revolt · Accepted Answer

A country can make and sell goods affordably and buy goods that it is inefficient at making.

International Trade Answers