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International Trade Quiz 149 (25 MCQs)

Quiz Instructions:

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1. Which of the following is a cost of international trade
2. The _____ lists the exact quantity, value, and specifications of the merchandise.
3. Foreign goods shipped into a country or region
4. Due to Covid 19, Global GDP collapsed and declined at what rate?
5. Since all exchanges (trade) in a market economy are voluntary, how do we know that the exchanges will probably benefit all participants?
6. Which theory suggests that a country should produce and export those goods and services for which it is relatively more productive than other countries and import those goods and services for which other countries are relatively more productive?
7. Goods and services that a country produces and sells to other countries
8. A complete ban on the import or export of products to a particular country:
9. Goods and services moved by
10. 'Difference of natural resources' is an important basis of interanational trade. Which of the following factors doesn't explain difference in natural resources?
11. If a country does not have a particular item, they may do _____
12. A country that imposes health and safety measures on imports is enforcing a(n)
13. If Slovenia is a small country in world trade terms, then if it imposes a large series of tariffs on many of its imports, this would
14. When imports exceed exports, a nation is said to have a _____
15. What can an importer do to secure itself when making an advance payment to the supplier?
16. Which is the most traditional and well established form of operating in foreign markets?
17. Following are the driving factors for international trade for importing countries:
18. Barrier to trade that limits the amount of goods or services that can be imported
19. In charge of locating goods in transit
20. An autarky point is_____
21. The Size of the market is relatively larger than that of domestic
22. If the value of intra-industry trade index (T) is T=1
23. When the exchange rate rises what happens to the demand for imports?
24. What is the term for financial or technical assistance given to a country, often by a foreign Government or Charity?
25. Hand chains made by Bahama glama sold in Macy's
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