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