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