New Trade Theory (NTT): Definition & Analysis

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What trade theory tells us that economies of scale have an impact on trade patterns?

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1. Which of the following business models is the basis for the traditional theory of international trade?

2. Why does the competitive market structure that evolves out of globalization most resemble monopolistic competition?

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About This Quiz & Worksheet

There are many theories within the field of economics, and this quiz will help you determine how well you understand New Trade Theory. The questions focus on the applications, terminology, and the circumstances necessary for New Trade Theory as well as other trade theories.

Quiz & Worksheet Goals

Practicing with these assessment tools will allow you to measure your knowledge of:

  • The theory used to account for the influence on trade patterns
  • Perfectly competitive market structure and related trade theory
  • Globalization and competitive market structures
  • Trade theory comparisons
  • Advantages of efficiency

Skills Practiced

Using this quiz and worksheet combination will allow you to upgrade the following skills:

  • Interpreting information - verify that you can read information regarding competitive market structures and interpret it correctly
  • Distinguishing differences - compare and contrast topics from the lesson, such as the Traditional Theory of International Trade and the New Trade Theory
  • Information recall - access the knowledge you've gained regarding advantages of efficiency

Additional Learning

To find out information beyond the answers to the quiz questions, open up the connected New Trade Theory (NTT): Definition and Analysis lesson. Additional topics covered are as follows:

  • Inherent factors
  • Globalization
  • Network effects
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