What is the primary goal of international trade?
International Business Knowledge Check In

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Business
•
9th - 12th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
Promoting economic growth
2.
FLASHCARD QUESTION
Front
Which organization is responsible for overseeing the rules of international trade and resolving trade disputes?
Back
World Trade Organization (WTO)
3.
FLASHCARD QUESTION
Front
What does GATT stand for in the context of international trade?
Back
General Agreement on Tariffs and Trade
4.
FLASHCARD QUESTION
Front
Which trade agreement is primarily associated with promoting economic integration in Europe?
Back
European Union (EU)
5.
FLASHCARD QUESTION
Front
What is the term for the advantage a country has in producing a particular good or service at a lower opportunity cost than other countries?
Back
Comparative advantage
6.
FLASHCARD QUESTION
Front
Which of the following is an example of a government-imposed restriction on the quantity of a particular good that can be imported into a country? Quota, Tariff, Embargo, Subsidy
Back
Quota
7.
FLASHCARD QUESTION
Front
What is the term for a tax imposed on imported goods and services?
Back
Tariff
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