1. Jumpstart Assignment
Get into groups for Jeopardy!

2. Jeopardy 10 20 30 40 50 Why Nations Trade. Trade Barriers/ Agreements
Measuring
Trade
Other Ch.
17 ?’s
Economics
Review 10 20 30 40 50

3. can produce more of a given product using a given amount
When a person or nation
can produce more of a given
product using a given amount
of resources. – 10 points
Category

4. country for sale. – 20 points
A good sent to another
country for sale. – 20 points
Category

5. A good brought in from
another country. – 30 points

6. A country can produce a
product at a lower opportunity
cost than another country.
– 40 points

7. Law that states that a nation
is better off when it produces
goods and services for which
it has a lower
opportunity cost.– 50 points

8. A limit on the amount of a
good that can be imported to
a given country. – 10 points

9. A tax on imported
Goods. – 20 points

10. A cycle of increasing
trade barriers. – 30 points

11. A self-imposed limitation on
the number of products
shipped to a particular country.
– 40 points

12. Founded in 1995 to ensure
compliance with GATT, to
negotiate new trade agreements,
and to resolve trade disputes.
– 50 points

13. An increase in the value
of money. – 10 points

14. Currency system in which
governments try to keep the
values of their currencies
constant against one another.
– 20 points

15. A decrease in the value
of a currency. – 30 points

16. When a nation exports more
than it imports, the nation is
said to have a _________
________. – 40 points

17. The relationship between a
nation‘s imports and its
exports. – 50 points

18. When a nation imports more
than exports, the nation is said
to have a _______ ________.
– 10 points

19. The use of trade barriers to
protect industries from foreign
competition. – 20 points

20. A currency system in which
the exchange rate is
determined by supply and
demand. – 30 points

21. Agreement that will eventually
eliminate all tariffs and other
trade barriers between Mexico,
Canada, and the U.S. – 40 points

22. The value of a nations currency
in relation to the currency of
another nation, which enables
you to convert prices in one
currency to prices in another
currency. – 50 points

23. An economic system in which
decisions are made by individuals
and businesses. – 10 points

24. The most desirable alternative
given up as the result of a
decision. – 20 points

25. A graph that shows alternative
ways to use an economy’s
productive resources.
– 30 points

26. Three reasons why a country
trades.– 40 points

27. Three reasons why a
country would favor
protectionism. – 50 points