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International Trade Quiz 44 (25 MCQs)

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1. Which of the following is NOT an advantage of world trade?
2. The main challenges in international trade are
3. What is the term for when a firm can produce a particular good more efficiently than any other firm?
4. A _____ is another name for a "producer" .
5. The exchange of goods and services between countries.
6. According to him/them, a country's prosperity should be determined by the living conditions of its residents, not by the amount of gold and other precious metals it possesses. He also coined the Absolute Advantage Theory.
7. Determine which country has the comparative advantage:Cuba takes 4 hours to make a TV and 12hrs to make a salsa Mexico takes 1 hour to make a TV and 5 hours to make a salsa
8. It the activity that occurs when a company exports goods or services to consumers in another country
9. APEC works towards a higher standard of living and higher education levels through _____
10. Conditions governing how companies are created, organized, and managed, and the nature of domestic rivalry.
11. What is the document showing consolidated shipments from many suppliers called?
12. Absolute advantage occurs when states specialize in producing the goods that they produce best and trade for goods that other states are better at producing.
13. What is the term for when a company from one country invests in a completely new business in a host country?
14. It is especially obvious within the areas of payment, currency and finance where every decision has direct consequences on the capital required during all phases of the transaction, until payment is received. What is it?
15. Rank the Appendices in CITES from the Appedix that requires the least protection for species to the Appendix that requires the most protection for species.
16. The following are the objectives of trade protection except
17. The transformation process can be categorized into_____
18. Cars made in Japan are being driven in Cat Island
19. "Trade exploits a country and makes it worse off if its workers receive much lower wages than workers in other nations." This statement belongs to what misconception in international economics?
20. Countries in Europe frequently trade goods and services with other countries in Europe.Hint:Frequently means very often!
21. When coming to Vietnam, Anna uses the digital banking services of Barclays Bank of England, transmitted via the internet. This is an example of _____
22. A Vietnamese shoe company signs a selling contract with a Chinese company, thereby it will sell its shoes to another Vietnamese company. This transaction is considered as:
23. Once again, in an hour, David can wash 2 cars or mow 1 lawn, and Ron can wash 3 cars or mow 1 lawn. Who has the comparative advantage in car washing, and who has the comparative advantage in lawn mowing?
24. Different forms of FDI (Foreign Direct Investment)
25. The pattern of what that observe in the world economy.
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