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