Eco: Question Preview (ID: 19826)

Below is a preview of the questions contained within the game titled ECO: Ch. 1 Ch. 2 Ch. 3 Ch. 7 .To play games using this data set, follow the directions below. Good luck and have fun. Enjoy! [print these questions]

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Any regulations that blocks international trade is considered what?
a) Duties b) Trade Barriers c) Tariffs d) Quotas
Which is the correct order of the top 6 U.S. trading partners?
a) South Korea, Germany, Japan, Mexico, China, Canada b) Canada, China, Mexico, Japan, Germany, South Korea c) Germany, Japan, China, Canada, Mexico, South Korea d) China, Canada, Germany, Mexico, Japan, South Korea
A high rise office building is what kind of factor of production and what income?
a) land, profit b) capital, interest c) labor, rent d) land, wager
Chick-fil-a is an example of what type of business?
a) Sole Proprietorship b) Ownership c) Partnership d) Corporation
Minimum wage is what type of goal of the Free Enterprise System?
a) Full Employement b) Security c) Freedom d) Equity
China can make 200 phones or 50 tablets, and America can make 100 phones or 150 tablets. What advantage does America have over China in making tablets?
a) Productive Advantage b) Absolute Advantage c) Controlled Advantage d) Comparative advantage
The ability to produce more with less resources than other countries is known as what?
a) Absolute Advantage b) Compared Advantage c) Protectionism d) Quotas
What is not an advantage of a partnership?
a) Lack of special taxes b) Easy to raise capital c) Few legal considerations d) Easy to form
Which is not a characteristic of the Free Enterprise System
a) Freedom b) Private Property c) Competition d) Stability
What is the key to trade?
a) Comparative Advantage b) Exports c) Specialization d) Absolute Advantage
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