← POB 1.03 Test
6 Written Questions
5 Multiple Choice Questions
- the amount of money a country owes to other countries
- goods and services sold to other countries
- the making, buying, and selling of goods and service within a country.
- A limit on the quantity of good that may be imported or exported within a given period to regulate international trade.
- when a country can produce a good or service at a lower cost than other countries.
5 True/False Questions
Imports → goods and services sold to other countries
Embargo Government → the difference between the amount of money that comes into a country and the amount that goes out of it.
International Business → activities needed for creating, shipping, and selling goods and services across national borders.
Comparative Advantage → a situation in which a country specializes in the production of a good or service at which it is realtively more effcient.
Exchange Rate → goods and services sold to other countries