Internation Trade And Economic Systems Jeopardy Template

Vocabulary	Lesson 1: Why and How Nations Trade	Lesson 2: Economic Systems and Development	Lesson 1 & 2	All of Chapter Review
100 What is import- to buy good from another country export- to sell goods to other countries What does import mean? What does export mean?	100 What is Comparative advantage. What is the main reason countries trade?	100 self-interest Fill in the Blank In a market economy, individuals act in their own ______-______	100 What is United States, Mexico, Canada What 3 countries joined together to create the largest free trade zone in the world?	100 What is Developed countries are countries with a high standard of living. A developing country is a country that does not have an advanced economy. What is the difference between a developed country and a developing country?
200 What quota mean? What is a limit on the amount of foreign goods imported into a country What quota mean?	200 What it Protectionism- is the use of tactics that make imported goods more expensive than domestics goods. What is Protectionism?	200 What is Freedom What does market economies give people?	200 What is World Trade Organization What is the WTO?	200 What is a high rate of population growth What is one major obstacle to development?
300 What is Balance of trade- the difference between the values of a nation's imports and its exports What does balance of trade mean?	300 27 Fill in the blank The benifits of free trade encouraged _____ European nations to form the largest econemy in the world.	300 What is a command economy What is the opposite of a market economy?	300 What is it promotes unity among nations and economic development in Africa What does the African Union Promote?	300 What is They have to create more jobs faster What is one challenge countries with high rate of population face?
400 What is Privatization- the process of changing from state-owned buisnesses, factories, and farms to ones owned by private citizens What does privatization mean?	400 What is trade surplus What is a postive balance of trade?	400 What is socialism What are the roots in command economies known as	400 What is subsidies What is one way governments protect domestic industries?	400 What is Import is when the country brings goods into the country Export is when goods leave the country What is the differnece of import and export?
500 What is developed country- a country with a high standard of living, a high level of industrialization, and a high per capita income What does developed country mean?	500 What is The value of one currency in terms of another What is exchange rate?	500 What is command economies What is central planning related to	500 What is Command economies Cuba North Korea Fill-in-the-Blank ________ economies are not very efficent. ______ and ________ _________ have low GPD's per a capital.	500 What is A subsidy is a payment or other benifit given by government to help domestic producer What are subsidies

Ch 24: Internation Trade and Economic Systems

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