International Trade Quiz 52 (25 MCQs)

Correct Answer: D) Many possible consumers.

Correct Answer: D) Textile.

Correct Answer: D) World Trade Organization.

Correct Answer: E) Tariffs.

Correct Answer: B) True.

Correct Answer: D) Regulating trade/ to sort out trade problems.

Correct Answer: C) The necessity to shield infant industries.

Correct Answer: A) Comparative advantage in production.

Correct Answer: A) Import quotas.

Correct Answer: A) Import Quota.

Correct Answer: A) Best describes a situation where there are two countries, A and B, and potentially two goods which can be traded, X and Y. A is absolutely better at producing X and B is absolutely better at producing Y, and so if A specializes in producing X and B in Y, and they trade together, then both countries will gain.

Correct Answer: C) Money.

Correct Answer: C) A citizen or legal entity who insures the insured item for his own benefit and concludes an insurance contract.

Correct Answer: C) Financial Institutions.

Correct Answer: B) Emerging.

Correct Answer: A) ASEAN.

Correct Answer: B) Joint venture.

Correct Answer: C) All the above.

Correct Answer: A) 29.

Correct Answer: B) National economic policies that restrict free trade.

Correct Answer: A) INTERNATIONAL TRADE SYSTEM.

Correct Answer: A) Privatization.

Correct Answer: C) Persuasion of trade between countries by the removal of trade barriers.

Correct Answer: B) A restriction on the quantity of a good that may be imported.

Correct Answer: B) Per capita incomes.