Online Quizzes - The worlds search engine for quizzes

Topic 1: Traditional Trade Theories


1) What was propagated by David Ricardo (1817)? : David Ricardo (1817) propagated that trade between two countries can benefit both countries if each country exports the goods in which it has a comparative advantage
2) What does countries exporting the goods they have a comparative advantage in mean? : Countries exporting the goods they have a comparative advantage in means that they specialise in what they are relatively good in
3) What does the opportunity cost of producing something measure? : The opportunity cost of producing something measures the cost of not being able to produce something else with the resources used
4) When does a country have a comparative advantage in producing a good? : A country has a comparative advantage in producing a good if the opportunity cost of producing that good is lower in the country than in other countries
5) What can trade between two countries do? : Trade between two countries can benefit both countries if each country exports the good in which it has a comparative advantage
Created on: 5/17/2017
# of questions: 60


This quiz is hosted by QuizMEOnline

This quiz is hosted by QuizMEOnline
Click the link below to take this quiz.