1. What is profit?

a. part ownership in a company
b. the amount of money left over after all the costs of production
          have been paid
c. when buyers and sellers make a market trade with anyone they chose
d. when the value of a country’s imports is higher than its exports

2. What is another name for a market economy?

a. capitalism
b. competition
c. voluntary exchange
d. interdependence

3. Which three countries signed NAFTA?

a. United States, Mexico, and China
b. China, Japan, and Australia
c. United States, Mexico, and Canada
d. Canada, United States, and Great Britain

4. Which country is the largest training partner of the United States?

a. China
b. Mexico
c. Japan
d. Canada

5. The United States spends more on imports than it earns from exports, creating a(n) _________.

a. trade deficit
b. trade surplus
c. voluntary exchange
d. interdependence