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International Trade Quiz 32 (25 MCQs)

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1. Made or produced or distributed by one having exclusive rights.
2. A classification of Human Wants that cannot be bought or satisfied using money such as peace, love, hope, etc.
3. Improve the welfare of member countries
4. BTKI related to international trade in Indonesia means:
5. What is a trading bloc?
6. The large trade of Belgium and the Netherlands suggests what factor that plays an important role in determining the volume of trade?
7. Adam Smith emphasised that specialisation on the basis of absolute cost advantage would lead to _____ of world production.
8. To impose certain conditions before granting consent.
9. If 1 US dollar is worth 0.80 Euros, what is the exchange rate for converting Euros to US dollars?
10. Which of the following is a major flaw associated with mercantilism?
11. The following are implications for international business except:
12. Freight forwarding only participates in the transportation of goods to one destination to another.
13. The quality of today's computers is due to technological advances caused by competition.
14. What are intellectual property rights?
15. Human Sales is a trade_____
16. Who issues the Inspection Certificate?
17. Commodity X i L-intensive and commodity Y is K-intensive
18. 7/ Which of the following is an example of a company benefiting from dynamic increasing profits through innovation?
19. International trade is mutually beneficial to nations if it results in:a) specialisation of skillsb) Higher level of productionc) Worldwide availability of goods and servicesd) differentiation of prices and wagese) diffusion of knowledge and culture
20. Scenario:Better Mousetrap Inc.Better Mousetrap Inc. is a manufacturing company that sells pest control products. Recently the company launched an innovative mousetrap with a unique design that has been selling well in the U.S. market. Senior Vice President Marc Wallace, even recommended expanding sales overseas in order to increase company revenues. 9) In reviewing his fulfillment process, Jack realizes that different customers opt for different types of shipping based on their preferences. Which of the following would most likely help Jack provide better shipping service to his customers?
21. What is a fixed rate of exchange?
22. If Australia has more land per worker, and Belgium has more capital per worker, then if trade were to open up between these two countries
23. An expenditure switching policy designed to correct a deficit on the current account of the balance of payments will aim to
24. One of the main benefits of international trade is
25. Which of the following has a negative impact to exporters in Malaysia?
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