Global MCQ Practice

Home > Finance > Economics > International Economics > International Trade > International Trade – Quiz 98
🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books

International Trade Quiz 98 (25 MCQs)

Quiz Instructions:

Select an option to see the correct answer instantly.

1. Why are most countries better off specializing in the production of particular goods, and then trading with other nations to obtain whatever else they need?
2. The measure of how much one nation's currency is worth in relation to another's
3. Comparative advantage is the ability of one country to produce goods at a higher opportunity cost than other country.
4. Silk route is an example of long distance trade route connecting _____ with China.
5. What country is NOT a part of NAFTA?
6. _____ means that somebody can be trusted to pay back money that is owed.
7. It is a condition of a producer where it is better suited for production of one good than another good. Which of the following is suitable to describe the statement above?
8. The practice of selling a commodity in two countries at a price that differs for reasons not related to costs is called:
9. A Malaysian exporter is allowed to issue invoice in Ringgit Malaysia to the importer in China and in return receives payment in Ringgit Malaysia from China.
10. If Canada has decided that they are going to place a tax on all shipments coming in from France, this would be an example of which trade barrier?
11. Coffee is an example of a _____
12. Complete:I forgot my jacket at your house last night. Let me _____ after work and pick it up.
13. The concept that a nation should produce and export a limited assortment of goods for which it is particularly suited in order to remain profitable is called _____
14. The purpose of ASEAN is to _____
15. Where did COVID-19 originate?
16. Which of the following is not a government campaign?
17. What does the Ricardian Model allows no role for differences among countries as a cause of trade?
18. What is the tariff on cars imported into the EU from the UK?
19. Which union controls most of the oil, in the world?
20. The dealings in _____ trade may be carried in different currencies.
21. South Africa can produce 1 barrel of oil using 3 units of land and can produce 1 karat of diamonds using 1 unit of land. On the other hand, Saudi Arabia can produce 1 barrel of oil using 1/2 unit of land and can produce 1 karat of Diamond using 6 units of land. Which country has comparative advantage in land production?
22. What does the term "WTO" stand for?
23. When the economy of two countries depend on each other, it's called:
24. People who carry out activities selling goods abroad are called_____
25. Business transactions between Lithuania and the United States involve members of
← PreviousNext →

Related Quizzes

🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books