This quiz works best with JavaScript enabled. Home > Economics > International Economics > International Trade > International Trade – Quiz 166 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books International Trade Quiz 166 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Formulates overall policies and strategies for Small and Medium Enterprises (SMEs) and coordinates the implementation of SME development programmes across the Ministries and Agencies. A) SME BANK. B) MSI. C) MAY. D) SME CORP. Show Answer Correct Answer: D) SME CORP. 2. An invoice is issued by the seller to the buyer. A) True. B) False. Show Answer Correct Answer: A) True. 3. How many regions of the world are included in the Perroni-Whalley model? A) 6. B) 8. C) 7. D) None of above. Show Answer Correct Answer: C) 7. 4. How can the benefits of international trade extend beyond the buyers and sellers in trade transactions and benefit a whole country? A) By increasing access to physical capital and export markets. B) By reducing the cost of imported goods. C) By providing job opportunities for domestic workers. D) By increasing government revenue through tariffs. Show Answer Correct Answer: A) By increasing access to physical capital and export markets. 5. The first assumption in Comparative Advantage Theory:The world consists of ..... nations, each using ..... input to produce ..... commodities. A) Two-two-two. B) Two-a single-two. C) Two-multiple-multiple. D) Two-one-multiple. Show Answer Correct Answer: B) Two-a single-two. 6. An economy's ability to produce a particular good or service at a lower opportunity cost than its trading partners. A) Absolute Advantage. B) Comparative Advantage. C) Globalization. D) Balance of Trade. Show Answer Correct Answer: B) Comparative Advantage. 7. Policy in which governments do not place restrictions on imports and exports A) Free Trade. B) Trade Failure. C) Trade Dependency. D) Exports. Show Answer Correct Answer: A) Free Trade. 8. It is the authority of organization that controls the flow of goods in and out of a country. A) Customs. B) Duty. C) Both are correct. D) None of above. Show Answer Correct Answer: A) Customs. 9. What are the main objects of transport insurance? A) 3. B) 6. C) 5. D) 4. Show Answer Correct Answer: C) 5. 10. The first trade didn't occur during the 15th century but instead during 1400's since the first to discover the fur are not the Europeans but only mere fishermen and travelers. A) TRUE. B) FALSE. Show Answer Correct Answer: A) TRUE. 11. Give the consumers and countries the opportunity to exposed the goods and services does not available in their country? A) SAFETY. B) TARIFFS. C) GLOBAL TRADING. D) INTERNATIONAL TRADE. Show Answer Correct Answer: C) GLOBAL TRADING. 12. Which of the following is part of the arguments about trade against? A) The protection of infant industries. B) The anti-dumping and unfair competition. C) The national security. D) A misallocation of resources. Show Answer Correct Answer: D) A misallocation of resources. 13. This organization is made up of 11 developing countries that depend on oil as a main source of income and provides over 40% of the worlds oil supply A) EU. B) NATO. C) OPEC. D) SHINTO. Show Answer Correct Answer: C) OPEC. 14. What is the cause behind the decline in the share of traditional items of export from India? A) Low quality products. B) Tough international competitions. C) Decline in the production of traditional items. D) Decline in demand of these products. Show Answer Correct Answer: B) Tough international competitions. 15. *26 members, 19 of which use the Euro as currencyNo tariffs for member nations; A) EU. B) NATO. C) OPEC. D) SHINTO. Show Answer Correct Answer: A) EU. 16. Name one benefit of international trade. A) Reduced employment opportunities. B) Limited access to foreign markets. C) Increased economic growth and prosperity. D) Decreased competition. Show Answer Correct Answer: C) Increased economic growth and prosperity. 17. The following is an approach or theory in analyzing ethical behavior, namely..... A) Theory of Obligation. B) Utilitarian Approach. C) Decision Theory. D) Interest Theory. Show Answer Correct Answer: B) Utilitarian Approach. 18. Which of the following is NOT a common objective of international business expansion? A) Diversifying market risk. B) Accessing new customer segments. C) Reducing operational complexity. D) Maximizing import tariffs. Show Answer Correct Answer: C) Reducing operational complexity. 19. Exporting dates in Saudi Arabia is one example of International Trade. A) True. B) False. Show Answer Correct Answer: A) True. 20. Each political system's philosophy impacts the policies that govern the local economy and business environment. A) TRUE. B) FALSE. Show Answer Correct Answer: A) TRUE. ← PreviousNext →Related QuizzesInternational Economics QuizzesEconomics QuizzesInternational Trade Quiz 1International Trade Quiz 2International Trade Quiz 3International Trade Quiz 4International Trade Quiz 5International Trade Quiz 6International Trade Quiz 7International Trade Quiz 8 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books