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International Trade Quiz 83 (20 MCQs)

Quiz Instructions

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1. 'Jon Beel Mela' is famous for barter system, is organised in which state?
2. A producer is able to produce larger quantity of a product with the same amount of resources that another producer has
3. In how many ways is the amount of compensation calculated?
4. When was the World Trade Organization established?
5. What is free trade known as?
6. The Austrian government gives a grant to manufacturers who produce and export automotive leather.
7. The amount that a nation imports or exports of a particular good depends on the difference between the equilibrium world price and the equilibrium domestic price.
8. Headquarter of OPEC is .....
9. A trade agreement between 27 countries of with the same currency and open trade between those nations.
10. The U.S. Congress places a quota on sweaters made in Afghanistan. This decreases the number of sweaters America will purchase from Afghanistan. Which of the following would result from the change in quota for sweaters?
11. Which of the following is not an adverse effect of international trade.
12. Which one of the following is a service of the logistics and transportation industry?
13. Large companies with a great number of foreign branches and affiliates
14. Barriers to Trade in Ireland are defined as
15. When a government restricts trading with another country for political reasons, it is called .....
16. Trading with as many countries that are willing to trade with you
17. It is a pact between two or more countries that outlines the terms and conditions of trade between them. These agreements can cover various aspects of trade, such as tariffs, quotas, and rules of trade.
18. What is the duration of protection for an international trademark registered through the WIPO Madrid System?
19. To produce goods of good quality, reliable workers are needed in order to increase export competitiveness. This is a benefit of international trade, namely .....
20. It's the authority or organization that controls the flow of goods in and out of a country. Customs authorities or officials collect the duties or taxes applied to imports and exports.
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