5.Economics.17 Trade & Interdependence

Question 1

What a place or country can make in their area at max capacity and lowest cost is called...?

Accepted Answer

Specialization

Question 2

Which of the following is an example of interdependence?

Accepted Answer

Your parents providing a home & you doing your part to clean/help

Question 3

Select all items Ohio would most likely import.

Accepted Answer

oranges, coffee, clothes

Question 4

Interdependence is when countries are self-sufficient and don't rely on anyone else for any of their needs.

Accepted Answer

False

Question 5

Farming allowed for a surplus of food. What best defines a "surplus?"

Accepted Answer

Having extra of something

Question 6

Which of the following is a synonym for export?

Accepted Answer

Abroad

Question 7

Exchanging of one good or service for another good or service is called...

Accepted Answer

Trade

Question 8

Businesses make products in other countries most likely because...?

Accepted Answer

They can make products cheaper because labor costs are less.

Question 9

Which of the following is a synonym for import?

Accepted Answer

Receive

Question 10

Select all items Ohio would most likely export.

Accepted Answer

Honda cars, eggs, wheat

Questions 10