This quiz works best with JavaScript enabled. Home > Economics > International Economics > International Trade > International Trade – Quiz 96 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books International Trade Quiz 96 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What are the main objectives of the transportation and logistics industry related to international trade and commerce? A) Provide market intelligence. B) Maintain global standards. C) Research and development. D) Increase profitability. Show Answer Correct Answer: D) Increase profitability. 2. Following is not the benefits of International Trade to Firms: A) Way out to intense competition in domestic market. B) Improved Business vision. C) Prospects for Higher profits. D) None of the above. Show Answer Correct Answer: D) None of the above. 3. Which of the following statement is/are true? I. Under this system, governments wanted to control and regulate trade in the new lands. II. Their end goal was to have favorable balance of trade where they exported more than they imported. A) Both statement are False. B) Only statement I is True. C) Only statement II is true. D) Both statement are True. Show Answer Correct Answer: D) Both statement are True. 4. Which factor might attract a multinational corporation to a country? A) Good tourist attractions. B) Cheap raw materials. C) High average monthly wage. D) None of above. Show Answer Correct Answer: B) Cheap raw materials. 5. All are the global providers of credit information, covering the most important trade markets with millions of companies in their databases:except A) Having discovered. B) Coface. C) Experian. D) D&B. E) P&G. Show Answer Correct Answer: E) P&G. 6. Japan places a quota on the number of Ford trucks imported into Japan. Which of the following groups benefits from this trade barrier? A) Japanese consumers. B) U.S. auto makers. C) U.S. workers. D) Japanese auto makers. Show Answer Correct Answer: D) Japanese auto makers. 7. Which mechanism gives tariff concessions to third world states on certain imports, as an exception to the most-favored nation (MFN) principle? A) Most-favored nation (MFN). B) Generalized System of Preferences (GSP). C) North American Free Trade Agreement (NAFTA). D) Organization of Petroleum Exporting Countries (OPEC). Show Answer Correct Answer: B) Generalized System of Preferences (GSP). 8. The tool used to find the causes and consequences of errors is..... A) Fishbone diagram. B) Tree diagram. C) Affinity diagram. D) Histogram. Show Answer Correct Answer: A) Fishbone diagram. 9. The source of beneficial free trade in the Ricardian world is A) Comparative advantage based on different factor endowments. B) Comparative advantage based on different labor productivities. C) Economies of scale in production. D) Comparative advantage based on increasing returns to scale technology. Show Answer Correct Answer: A) Comparative advantage based on different factor endowments. 10. Benefits that must be immediately given unconditionally to products from other countries can be in the form of: A) Selling price. B) Market location. C) Applicable import duties and taxes. D) Promotion media. Show Answer Correct Answer: C) Applicable import duties and taxes. 11. If trading was not possible, the living standards or the standard of comfort would be higher. A) True. B) False. Show Answer Correct Answer: B) False. 12. What is the meaning of Boarder Crossing? A) Activities of selling goods abroad. B) This system is carried out by making a trade agreement with a country. C) The activity of buying goods from abroad. D) Trade that occurs in countries that border each other. Show Answer Correct Answer: C) The activity of buying goods from abroad. 13. Underdeveloped nations tend to trade what type of goods A) Low skill products. B) High tech goods. C) Finished products. D) High skill products. Show Answer Correct Answer: A) Low skill products. 14. Islamic countries are members of the OIC (Organization of Islamic Cooperation) organization. This OIC is a form of cooperation..... A) Bilateral. B) Multilateral. C) Regional. D) National. Show Answer Correct Answer: B) Multilateral. 15. Between 1992 & 1994 cotton crop was affected by ..... A) Animals. B) Hail. C) No Electricity. D) Floods. E) Thunder Storms. Show Answer Correct Answer: D) Floods. 16. The form of discrimination from an action can be reflected in..... A) De jure and de minimis. B) Again and in fact. C) De jure and de facto. D) Again & again. Show Answer Correct Answer: C) De jure and de facto. 17. Economic development is important in countries because it A) Reduces the gross national product (GNP) and population growth. B) Usually means a zero population growth (ZPG) policy is established. C) Reduces poverty and increases social and political stability. D) Usually means a country produces more than it consumes. Show Answer Correct Answer: C) Reduces poverty and increases social and political stability. 18. Which of the following is NOT true about the import demand curve? A) It is steeper than the domestic demand curve in the importing country. B) It is flatter than the domestic demand curve in the importing country. C) It slopes down. D) It intersects the vertical axis at the domestic equilibrium price in autarky equilibrium. Show Answer Correct Answer: A) It is steeper than the domestic demand curve in the importing country. 19. Adam Smith was best known as an advocate of ..... A) Low-cost manufacturing. B) Free-market economics. C) Mercantilism. D) Labor unions. Show Answer Correct Answer: B) Free-market economics. 20. Computers made in China are used by students in London is an example of ..... A) Import. B) Export. Show Answer Correct Answer: A) Import. ← 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