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International trade
Contributed by: Grainger
  • 1. What is international trade?
A) Domestic trade within a country
B) Exchange of goods and services between countries
C) Trade between companies in the same country
D) Trade conducted online
  • 2. What is a tariff?
A) A subsidy for exporting companies
B) A tax on imported goods
C) An agreement to increase trade
D) A restriction on the quantity of goods imported
  • 3. Which organization regulates international trade rules?
A) United Nations (UN)
B) International Monetary Fund (IMF)
C) World Trade Organization (WTO)
D) European Union (EU)
  • 4. What is a free trade agreement?
A) An agreement to control currency exchange rates
B) An agreement to impose tariffs on all imports
C) An agreement to restrict all exports
D) An agreement to reduce or eliminate trade barriers
  • 5. Which country is the world's largest exporter?
A) Japan
B) Germany
C) United States
D) China
  • 6. What is the balance of trade?
A) The total value of goods traded internationally
B) The tax imposed on imports
C) The process of negotiating trade agreements
D) The difference between a country's exports and imports
  • 7. What is the main goal of protectionist trade policies?
A) To protect domestic industries from foreign competition
B) To lower prices for consumers
C) To promote free trade
D) To increase imports
  • 8. What is the World Trade Organization (WTO) responsible for?
A) Setting rules for global trade and resolving disputes between countries
B) Providing financial aid to developing countries
C) Facilitating immigration policies
D) Promoting a single global currency
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