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20 questions
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  • Q1
    Many countries are dependent on ___________ which is internationally traded by countries located in the Middle East.
    Corn
    Pineapples
    Oil
    Water
    30s
    113.18.6.C
  • Q2
    Supply and demand affect the pricing of products that are traded internationally.
    False
    True
    30s
    113.18.6.C
  • Q3
    When oil prices go up, it also affects the price of ____________?
    Diamonds
    Milk
    Corn
    Gas
    30s
    113.18.6.C
  • Q4
    Globalization is the expansion of businesses within a small community.
    True
    False
    30s
    113.18.6.A
  • Q5
    Companies take advantage of their natural resources, such as natural gas, fish or lumber to help create profit.
    False
    True
    30s
    113.18.6.A
  • Q6
    An example of globalization is making goods in China and selling them in America.
    False
    True
    30s
    113.18.6.A
  • Q7
    Nafta is a free trade agreement between these 3 countries.
    Canada, United States & Mexico
    United States, Russia & China
    England, Ireland & Scotland
    Japan, Vietnam & South Korea
    30s
    113.18.6.C
  • Q8
    The E.U. or European Union is an agreement that united the economies of European countries by the sharing of a single currency, the Euro.
    False
    True
    30s
    113.18.6.C
  • Q9
    Outsourcing allows companies to keep labor costs low by hiring in other countries with lower standards of living. A major company in America that does this is ________________.
    All of the answer choices
    Apple
    Nike
    Walmart
    30s
    113.18.6.A
  • Q10
    The impact of interdependence between countries means they need each other for financial success and encourages good economic relations.
    False
    True
    30s
    113.18.6.C
  • Q11
    The biggest cash crop in modern-day America is corn and soybeans. The very first cash crop in America was ________________.
    Corn
    Sugarcane
    Cotton
    Tobacco
    30s
    113.18.6.A
  • Q12
    Although the United States is still the leading world economic power, this role is being challenged by the globalization of trade.
    False
    True
    30s
    113.18.6.C
  • Q13
    The 4 factors of production are land (natural resources), labor, capital and _______________________.
    Factories
    Economist
    Enterprise
    Goods or Services
    30s
    113.18.6.A
  • Q14
    When one part of factors of production is missing then there will be a ________________ supply of the item being produced.
    Sufficient
    Planned
    Limited
    Abundance
    30s
    113.18.6.B
  • Q15
    Undeveloped countries do not always have the required capital to produce economic results. The word capital refers to ___________.
    Required natural resources
    Required amount of workers
    Required technology
    Required equipment & money
    30s
    113.18.6.B

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