7.6-7.8 Vocabulary Test
Question 1
The ability of a country to produce a good at a lower opportunity cost than another country.
The mutual benefits that countries experience when they trade with each other.
The establishment of trade agreements between multiple countries.
The increase in production efficiency due to technological advancements.
Question 2
World Trade Organization (WTO)
Organization of the Petroleum Exporting Countries (OPEC)
European Union (EU)
Mercosur
Question 3
Increased globalization and interconnectedness of economies.
Decreased competition among international businesses.
Reduction in the number of multinational corporations.
Increased tariffs and trade barriers.
Question 4
Imposing tariffs on imported goods.
Establishing a new currency.
Promoting cultural exchange programs.
Increasing military spending.
Question 5
To provide financial assistance and promote economic stability in member countries.
To regulate international trade agreements.
To enforce environmental regulations globally.
To oversee global telecommunications networks.
Question 6
It has led to a decline in jobs in core regions and an increase in jobs in newly industrialized countries.
It has resulted in a uniform distribution of jobs worldwide.
It has increased job opportunities in rural areas of developed countries.
It has decreased the demand for skilled labor in developing countries.
Question 7
A region where business and trade laws differ from the rest of the country to attract foreign investment.
A protected area designated for wildlife conservation.
A zone where only domestic companies can operate.
A region with strict environmental regulations to prevent pollution.
Question 8
Flexible production processes and just-in-time delivery.
Mass production and standardization.
Centralized manufacturing in a single location.
Exclusive reliance on manual labor.
Question 9
To address issues related to natural-resource depletion and pollution.
To maximize industrial output regardless of environmental impact.
To eliminate all forms of tourism in natural environments.
To increase reliance on fossil fuels for energy.
Question 10
By promoting conservation of natural environments and providing economic benefits to local communities.
By encouraging mass tourism in urban areas.
By focusing solely on the economic growth of developed countries.
By reducing the need for international travel.
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