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International Trade Quiz 110 (25 MCQs)

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1. Many countries want to protect their local industries from foreign competition
2. What are tangible products that can be bought or sold?
3. In _____ there is only one (dominant) seller. That company offers a product to the market that has no substitute.
4. A country that has a lower opportunity cost of producing a good:
5. In portfolio analysis, when there are many suppliers who can provide products or are easy to find, this is an example of a quadrant
6. A tax placed on imports
7. Absolute advantage theory was proposed by _____ in 1776.
8. Providing a forum for intergovernmental celebrations, undertaking research, policy analysis and data collection, Providing technical assistance to developing countries.
9. Letter of credit also called _____
10. When a country imports more than it exports
11. Mr. Anello's daughter's name is _____
12. What is the purpose of the trade network?
13. A policy concerned with money supply and credit in the economy.
14. The benefits of centers of economic excellence for the cultural life of society are_____
15. When did international trade begin to increase?
16. WHY ARE TARIFFS USED?
17. Increasing businesses and high income let the country to export its services and goods.
18. A way for foreign currency and expertise to enter a country allowing for advancement
19. It is the foundation principle of international trade and uses scarce resources efficiently for example if the Philippines is good when it comes to exporting its people
20. Our nation, as well as the people, can gain by having international trade _____
21. Two countries A and B produce wheat and cloth. In one day country A can produce either 12 units of wheat or 3 units of cloth, while country B can produce 4 units of wheat or 2 units of cloth. If country A and country B trade, according to the theory of comparative advantage
22. Those who stand to gain from trade
23. What are the types of risk that are unique to a country like Syria, North Korea or Egypt.
24. It refers to the idea that businesspeople should consider the social consequences of economic actions when making business decisions.
25. _____ is the relative strength that one needs to win in a competition.
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