ThatQuiz Test Library Take this test now
International trade
Contributed by: Grainger
  • 1. What is international trade?
A) Trade between companies in the same country
B) Domestic trade within a country
C) Trade conducted online
D) Exchange of goods and services between countries
  • 2. What is a tariff?
A) A subsidy for exporting companies
B) A restriction on the quantity of goods imported
C) A tax on imported goods
D) An agreement to increase trade
  • 3. Which organization regulates international trade rules?
A) International Monetary Fund (IMF)
B) World Trade Organization (WTO)
C) European Union (EU)
D) United Nations (UN)
  • 4. Which country is the world's largest exporter?
A) Germany
B) United States
C) Japan
D) China
  • 5. 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
  • 6. What is the balance of trade?
A) The difference between a country's exports and imports
B) The total value of goods traded internationally
C) The process of negotiating trade agreements
D) The tax imposed on imports
  • 7. What is the main goal of protectionist trade policies?
A) To increase imports
B) To protect domestic industries from foreign competition
C) To lower prices for consumers
D) To promote free trade
  • 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
Created with That Quiz — where test making and test taking are made easy for math and other subject areas.