1.1 - Key Concepts
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Practice Questions
Test your understanding with targeted questions
Define globalization in your own words.
💡 Hint: Think about how trade happens on a global scale.
What is a tariff?
💡 Hint: Consider why a country might want to impose a tax.
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Interactive Quizzes
Quick quizzes to reinforce your learning
What does globalization refer to?
💡 Hint: Consider how trade relationships evolve across countries.
True or False: A tariff decreases the price of imported goods.
💡 Hint: Think about the purpose of tariffs.
1 more question available
Challenge Problems
Push your limits with advanced challenges
Analyze a case where a country imposes tariffs on imports. How might this affect local consumers and businesses?
💡 Hint: Think about both immediate effects and long-term market adjustments.
If you were advising a country with both absolute advantages in several goods, how would you guide their trade relationships?
💡 Hint: Consider how trade partnerships can be strategically developed.
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