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Achieving Trade Balance: Trade Deficit and Surplus Examples

Instructions:

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

question 1 of 3

Which of the following is FALSE concerning trade?

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1. Which of the following does NOT impact the trade balance of a country?

2. If a country had $1 million in exports and $1.5 million in imports, what would the trade balance be?

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About This Quiz & Worksheet

What does it mean to carry a trade deficit or surplus? This quiz/worksheet combo will assess your understanding of these economic practices.

Quiz and Worksheet Goals

In these assessments, you'll be tested on:

  • Facts about trade balance
  • Factors that affect trade balance
  • How to determine trade balance
  • Facts about the United States' trade balance
  • A fact about the U.S. trade deficit

Skills Practiced

This worksheet and quiz will allow you to test the following skills:

  • Reading comprehension- ensure that you draw the most important information from the related lesson about what trade balance is
  • Interpreting information - verify that you can read information regarding a perfect trade balance and interpret it correctly
  • Information recall - access the knowledge you've gained regarding U.S. trade surpluses and deficits with specific countries

Additional Learning

To learn more about this trade topic, review the accompanying lesson called Achieving Trade Balance: Trade Deficit and Surplus Examples. This lesson covers the following objectives:

  • Explain trade balance
  • Describe how a trade surplus and a deficit are reached
  • Detail a perfect trade balance
  • Provide actual U.S. trade surplus and deficit examples
  • Discuss countries that consistently have a trade surplus
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