The process of more developed countries shifting to a more service oriented

Free trade agreements

Pacts between countries that make it easier to trade goods across national

The buying and selling of goods and services

The mutual beneficial trade relationship that exists between two countries

What is a benefit of sweatshop labor in less developed countries?

The opportunity to move out of poverty

the process of moving call centers and manufacturing out of the country tha

Why are many goods sold in the United States produced overseas, often in several countries?

It results in much lower prices for consumers.

A good or service produced in the home country and sold in another country.

the basic material from which a product is made.

Comparative Advantage

The ability of a country to produce a good at a lower cost than another cou

Which of the statements below best describes how India gained its independence?

Strong leaders led the country in using non-violent forms of conflict

The transfer jobs requiring low-paid less skilled workers from MDCs to LDCs is a part of...

the international division of labor.

the process of the world becoming more interconnected economically and cult

The chart above shows that for the majority of the world globalization has...

increased the standard of living.

To bring a product into a country to be sold

International division of labor

Transfer of some types of jobs, especially those requiring low-paid less sk

Which was a major effect of European imperialism on Africa?

Africans became economically dependent on European nations.

Transfer of some types of jobs, especially those requiring low-paid less skilled workers, from more developed to less de

International division of labor

A shop or factory where workers work long hours at low wages under unhealth

Which statement best expresses the motive for 19th-century European imperialism?

Imperialism would benefit the economies of the colonial powers

Actions or activities that one person performs for another

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Unit 8: Trade and Commerce Vocab

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Questions 74

Answers

1
Quality of life based on ownership of necessities and luxuries that make life easier
Natural Resources
Dependency Theory
International division of labor
Standard of Living
2
Interconnected
mutually joined or related
A shop or factory where workers work long hours at low wages under unhealth
the basic material from which a product is made.
Products made in a factory usually by machinery and people on an assembly l
3
Deindustrialization
A good or service produced in the home country and sold in another country.
The process of more developed countries shifting to a more service oriented
A tax on imported goods
Items purchased to satisfy needs and wants
4
A relationship between countries in which they rely on one another for resources, goods, or services
Interdependence
Containerization
Dependency Theory
Trade
5
The mutual beneficial trade relationship that exists between two countries who trade
Goods
Complementarity
Interdependence
Import
6
Free trade agreements
The ability of a country to produce a good at a lower cost than another cou
Actions or activities that one person performs for another
Pacts between countries that make it easier to trade goods across national
A shop or factory where workers work long hours at low wages under unhealth
7
Materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for econ
Standard of Living
Free trade agreements
Globalization
Natural Resources
8
Commerce
the process of the world becoming more interconnected economically and cult
Transfer of some types of jobs, especially those requiring low-paid less sk
The buying and selling of goods and services
To bring a product into a country to be sold
9
Complementarity
The mutual beneficial trade relationship that exists between two countries
the basic material from which a product is made.
A good or service produced in the home country and sold in another country.
Items purchased to satisfy needs and wants
10
What is an international organization formed after WWII to promote international peace, security, and cooperation?
the United Nations
the North Atlantic Free Trade Organization
the World Trade Organization
the League of Nations
11
Why has global trade increased rapidly over the last century?
Communication technology has improved
all of the above answers
Trade barriers have reduced
Methods of transportation have improved
12
Exchange of goods and services
Globalization
Goods
Trade
Containerization
13
What is a benefit of sweatshop labor in less developed countries?
The opportunity to move out of poverty
Fewer opportunities for women in the economy.
Sweatshops are often very safe
A wage that is similar to a living wage in the United States
14
the process of the world becoming more interconnected economically and culturally
Comparative Advantage
Globalization
International division of labor
Tariff
15
Outsourcing
Quality of life based on ownership of necessities and luxuries that make li
the process of moving call centers and manufacturing out of the country tha
To bring a product into a country to be sold
Exchange of goods and services
16
What is the process of MDCs shifting to a more service oriented economy from a manufacturing economy?
comparative advantage
the international division of labor
globalization
deindustrialization
17
Tariff
The transporting of goods in standard-sized shipping containers
Actions or activities that one person performs for another
Exchange of goods and services
A tax on imported goods
18
Why are many goods sold in the United States produced overseas, often in several countries?
Overseas production is better for the environment.
It results in more jobs in the United States.
It leads to conflict between countries.
It results in much lower prices for consumers.
19
Export
a model of development that explains global inequality in terms of the hist
the basic material from which a product is made.
A good or service produced in the home country and sold in another country.
The buying and selling of goods and services
20
A shop or factory where workers work long hours at low wages under unhealthy conditions
Outsourcing
Tariff
Goods
Sweatshop
21
The buying and selling of goods and services
Natural Resources
Containerization
International division of labor
Commerce
22
A system of trade between nations in which there are no special taxes placed on imports
Free Trade
Standard of Living
Tariff
Natural Resources
23
Raw Materials
Quality of life based on ownership of necessities and luxuries that make li
A relationship between countries in which they rely on one another for reso
Pacts between countries that make it easier to trade goods across national
the basic material from which a product is made.
24
Comparative Advantage
Products made in a factory usually by machinery and people on an assembly l
The ability of a country to produce a good at a lower cost than another cou
The buying and selling of goods and services
Items purchased to satisfy needs and wants
25
The process of increasing connections in the areas of economics, communications, technology, and politics is known as...
fundamentalism
globalization
modernization
dependency
26
What is the free trade agreement between the United States, Canada, and Mexico? Formerly known as NAFTA.
IMF
WTO
USMCA
NATO
27
Which of the statements below best describes how India gained its independence?
Ethnic groups led rebellions
The country wrote a Declaration of Independence
Strong leaders led the country in using non-violent forms of conflict
They were slowly allowed to create its own government
28
Trade
Materials or substances such as minerals, forests, water, and fertile land
mutually joined or related
Exchange of goods and services
Quality of life based on ownership of necessities and luxuries that make li
29
When it comes to religion, race, and ethnicity, groups tend to ______________ with groups that are similar to them
have conflict
have cooperation
30
The transfer jobs requiring low-paid less skilled workers from MDCs to LDCs is a part of...
deindustrialization.
the international division of labor.
free trade agreements.
containerization.
31
More developed countries usually trade more...
lumber.
unprocessed petroleum.
raw materials.
manufactured products.
32
Products made in a factory usually by machinery and people on an assembly line
Free Trade
Deindustrialization
Export
Manufactured Goods
33
A worker in a sweatshop is most likely to experience...
all of the above
the use of child labor.
poor working conditions.
a income of less than $2 a day.
34
To bring a product into a country to be sold
Raw Materials
Free trade agreements
Manufactured Goods
Import
35
Globalization
Pacts between countries that make it easier to trade goods across national
the process of the world becoming more interconnected economically and cult
mutually joined or related
Materials or substances such as minerals, forests, water, and fertile land
36
The chart above shows that for the majority of the world globalization has...
increased the standard of living.
led to rise of more pandemics like AIDS and COVID-19.
led to the blending of cultures together.
increased the likelihood of terrorism.
37
A materials such as minerals, forests, or water that can be used for economic gain are...
material resources
consumer resources
natural resources
manufactured resources
38
mutually joined or related
Raw Materials
Deindustrialization
Outsourcing
Interconnected
39
Germany’s largest export is motor vehicles. This demonstrated that their economy is most likely
less developed
Communist
stagnant
more developed
40
Import
To bring a product into a country to be sold
A good or service produced in the home country and sold in another country.
Quality of life based on ownership of necessities and luxuries that make li
A tax on imported goods
41
International division of labor
Pacts between countries that make it easier to trade goods across national
The process of more developed countries shifting to a more service oriented
Transfer of some types of jobs, especially those requiring low-paid less sk
A system of trade between nations in which there are no special taxes place
42
Which of the following is a negative effect of globalization?
Higher standard of living
Multinational corporations are declining in number
Increased environmental damage
Increased freedom and democracy
43
Which was a major effect of European imperialism on Africa?
Most Africans voluntarily abandoned tribal or ethnic loyalties
Africans became economically dependent on European nations.
Most African nations developed self-sufficient economies.
Africans and Europeans developed a respect for each other's cultures.
44
Transfer of some types of jobs, especially those requiring low-paid less skilled workers, from more developed to less de
Dependency Theory
Interconnected
International division of labor
Manufactured Goods
45
Items purchased to satisfy needs and wants
Manufactured Goods
Goods
Trade
Globalization
46
Sweatshop
Exchange of goods and services
Quality of life based on ownership of necessities and luxuries that make li
A shop or factory where workers work long hours at low wages under unhealth
A relationship between countries in which they rely on one another for reso
47
A tax on imported goods
Tariff
Comparative Advantage
Free trade agreements
International division of labor
48
Which statement best expresses the motive for 19th-century European imperialism?
reducing the number of wars
Imperialism would benefit the economies of the colonial powers
living space for Europeans
benefits from culture
49
Services
Actions or activities that one person performs for another
A shop or factory where workers work long hours at low wages under unhealth
Transfer of some types of jobs, especially those requiring low-paid less sk
Items purchased to satisfy needs and wants
50
Less developed countries usually trade more...
automobiles.
consumer electronics.
manufactured products.
raw materials.
51
Countries specializing in producing what they are good at producing, and importing other goods is
standard of living
containerization
free trade
comparative advantage
52
When it comes to religion, race, and ethnicity, groups tend to ______________ with groups that are different to them
have cooperation
have conflict
53
Manufactured Goods
The mutual beneficial trade relationship that exists between two countries
Materials or substances such as minerals, forests, water, and fertile land
the basic material from which a product is made.
Products made in a factory usually by machinery and people on an assembly l
54
A t-shirt being designed in Germany, produced in Vietnam, and sold in the United States, is
interdependence
independence
less developed
isolation
55
the process of moving call centers and manufacturing out of the country that the company is headquartered in
Outsourcing
International division of labor
Free trade agreements
Complementarity
56
The process of more developed countries shifting to a more service oriented economy from a manufacturing economy
Raw Materials
Interconnected
Free trade agreements
Deindustrialization
57
The ability of a country to produce a good at a lower cost than another country can.
Interconnected
Comparative Advantage
Manufactured Goods
Tariff
58
Actions or activities that one person performs for another
Deindustrialization
Services
Free trade agreements
Goods
59
Goods
Materials or substances such as minerals, forests, water, and fertile land
the process of the world becoming more interconnected economically and cult
Items purchased to satisfy needs and wants
mutually joined or related
60
Which of the following is not a reason for why a country would participate in free trade?
Free trade leads to economic growth.
Free trade encourages countries to develop a diverse economy
Free trade between countries reduces the chance of conflict
Free trade lowers prices by encouraging competition
61
Standard of Living
Exchange of goods and services
Materials or substances such as minerals, forests, water, and fertile land
The process of more developed countries shifting to a more service oriented
Quality of life based on ownership of necessities and luxuries that make li
62
The transporting of goods in standard-sized shipping containers
Natural Resources
Manufactured Goods
Sweatshop
Containerization
63
Dependency Theory
Items purchased to satisfy needs and wants
The mutual beneficial trade relationship that exists between two countries
a model of development that explains global inequality in terms of the hist
To bring a product into a country to be sold
64
What is the impact of outsourcing on the country that is doing the offshore outsourcing of jobs?
The cost of goods available goes up
Companies can increase profits
Gaining jobs
Access to higher than average wages
65
Interdependence
A shop or factory where workers work long hours at low wages under unhealth
A relationship between countries in which they rely on one another for reso
Products made in a factory usually by machinery and people on an assembly l
The transporting of goods in standard-sized shipping containers
66
the basic material from which a product is made.
Deindustrialization
Raw Materials
Free trade agreements
Manufactured Goods
67
What is the impact of free trade agreement being shown in the chart?
Prices for consumers are cheaper.
Increased tariffs restrict the movement of goods
There is a greater variety of goods available.
Manufacturing jobs are moving to countries with cheaper labor.
68
Natural Resources
the process of moving call centers and manufacturing out of the country tha
Materials or substances such as minerals, forests, water, and fertile land
a model of development that explains global inequality in terms of the hist
Products made in a factory usually by machinery and people on an assembly l
69
a model of development that explains global inequality in terms of the historical exploitation of poor nations by rich o
Tariff
Deindustrialization
Goods
Dependency Theory
70
A good or service produced in the home country and sold in another country.
Containerization
Export
Commerce
Deindustrialization
71
Free Trade
The mutual beneficial trade relationship that exists between two countries
the process of the world becoming more interconnected economically and cult
A system of trade between nations in which there are no special taxes place
Materials or substances such as minerals, forests, water, and fertile land
72
Pacts between countries that make it easier to trade goods across national boundaries
Standard of Living
Free trade agreements
International division of labor
Comparative Advantage
73
When it comes to religion, race, and ethnicity, groups tend to ______________ with groups that are different to them
have conflict
have cooperation
74
Containerization
The transporting of goods in standard-sized shipping containers
A system of trade between nations in which there are no special taxes place
Quality of life based on ownership of necessities and luxuries that make li
Items purchased to satisfy needs and wants

Unit 8: Trade and Commerce Vocab Flashcards | StudBud