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International Trade Quiz 118 (25 MCQs)

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1. What is an export?
2. How does international trade impact economic growth within a trading nation?
3. Which trade group promotes the movement of goods and people in South America?
4. When one individual, business, or country has the lowest opportunity cost ratio for producing the good or service is known as:
5. Revenue Tariff is imposed to:
6. Which of the following was listed as a good area for Free Trade Zones?
7. What is the anti-dumping argument for government intervention in international trade?
8. The type of new product development is_____
9. The bank issuing an L/C takes primary responsibility for
10. How many Appendices are included in CITES?
11. They are situations in which none of the available alternatives seems ethically acceptable.
12. Help importing and exporting businesses conduct their business more efficiently
13. When there is not enough of a certian good this is known as?
14. What does the acronym BRICS represent in the context of international business?
15. Over the short term, which of the following is not an advantage to free trade?
16. What is the key to trade?
17. The general purpose of tariffs is:
18. When a government allows raw materials and other intermediate products to enter a country duty free, this generally results in a(an)
19. This is a tax on imports that is used to increase price of foreign products.
20. The first principle that suggest trade as an economic activity is that
21. What is the price of one nation's currency in terms of another nation's currency called?
22. The horizontal axis is for book production and the vertical axis is for pizza production. If the Malaysia's' production possibility frontier was flatter to the book axis, whereas Singapore was steeper, we can say:
23. Which of the following is NOT true about the export supply curve?
24. Which of these answers is correct to admit that the international trade bringing change to nation states?
25. Examples of ownership advantage include which of the following?
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