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International Trade Quiz 57 (30 MCQs)

Quiz Instructions

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1. The following are levels of international business except
2. Business Transactions can be done in various ways:
3. Explain the concept of floating exchange rates.
4. Nations trade because consumers have different preferences in terms of prices, quality, brands, and other attributes.
5. In an economy, there are four (4) economic actors, namely .....
6. Tariffs that are only input as a proportion of goods imported are called.....
7. The practice of states party to a trading bloc delaying the implementation of a norm or commitment contained in an agreement is called:
8. What is infrastructure?
9. What is currency appreciation
10. What are some challenges of international trade?
11. Which product did Vietnam export the most in 2022?
12. Before goods enters a country they must meet a certain criteria. This is known as .....
13. Goods brought into Nigeria are called ..... goods while goods taken out of Nigeria to other countries are called ..... goods
14. Some countries protect their economies through barriers to free trade. What would be the result in such countries of this protection? A Competition will be reduced. B Consumer choice will increase. C Prices will fall. D Unemployment will rise.
15. Where does all the buying, selling, supply, and demand for a product take place?
16. "Zeroing" is a method used by the Investing Authority in calculating a number of transactions to carry out investigations.....
17. The ISO 14000 standard explains about.....
18. A person or organization that buys goods or services from a store or business.
19. North Dakota received boots made in Canada
20. A tax placed upon imported goods or services is called a(n)
21. To protect U.S. national security, a foreign nation would most likely be prevented from
22. The value of the dollar to fall in foreign exchange markets is the effect of
23. A country can produce a product more efficiently and cheaper than another country. This is the:
24. What will cause an improvement in a country's terms of trade? A a fall in incomes abroad B a fall in its exchange rate C a rise in its inflation rate D a rise in the price of its imports
25. Ship by truck when .....
26. Occurs when a country can produce a good utilizing less resources than another country
27. It is when the country exports more of its goods and services higher than the imports
28. A country wealth depends on the availability of goods and services to it's citizens.
29. The Bill of Lading is considered "Title to the Goods"
30. Letting another company, or licensee, use a trademark, patent, special formula, company name, or some other intellectual property for a fee or royalty.
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