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International Trade Quiz 21 (25 MCQs)

Quiz Instructions:

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1. Irish people going on holiday to Spain is an example of a _____
2. _____ is the oldest International Trade theory.
3. The WTO (World Trade Organization) is the _____ organization devoted to promoting international trade.
4. Legal limit on the amount of a good that can be imported into a country.
5. The goods and services a country decides to export is determined by what types of advantages?
6. A person who puts money into a project to earn a profit.
7. Which of the following trade agreements has been primarily associated with the European Union (EU)?
8. Producer sells a product below the sale price of their home market
9. The process by which people and goods move easily across borders.
10. What is the difference between nations exports and imports?
11. Abigail is planning to study abroad and she needs to exchange her local currency for the currency of the country she's going to. She's wondering where she can do this. What is the market called where international currencies are bought and sold?
12. This department deals with complaints and faulty products
13. The firm that enters into a turnkey deal will have no long-term interest in the foreign country.
14. Import can be good if the government able to shift the market become more competitive by focusing on specific winning products.
15. This agent helps importers and exporters move their goods through customs, prepare documents, assist with communications, and arrange payment of duties.
16. Read the following claim.Tariffs can weaken the relationships between countries.Which selection from the article BEST supports the claim above?
17. Import is buying from abroad.
18. Which of the following is not a negative of international trade?
19. Pepsi is an example of _____
20. If the U.S. government disagrees with a foreign country's policies and wants to prevent trading with that country, the MOST effective action the U.S. government can take is to
21. A non-tariff (or non monetary) barrier can include such things as _____
22. List of contents
23. The current price of one currency in relation to another
24. Goods produced in one country, then shipped out to another region or country
25. In our contemporary time, what type of goods make up the majority of share in world trade?.
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