Chapter 37 International Trade
Authored by Melba Smchs
Education, Business
11th Grade
Used 2+ times
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5 questions
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1.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Why do countries trade ?
to obtain goods that they cannot produce domestically
to obtain goods that can be brought more cheaply from overseas
selling off unwanted commodities
buy unwanted goods
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
what are the advantages of trade?
competition for domestic businesses
unemployment
poverty
lower prices and increased choice for consumers
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the disadvantages of trade?
lower input prices
wider markets for businesses
more choice for consumers
unemployment
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
what is meant by free trade ?
exports are transported free of charge
commissions for changing currency are waived for international trade transactions
A government allows open access to all markets in its country
international transactions are free of indirect taxes such as VAT
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is International trade ?
buying and selling of goods
import and export of goods and services
import and export of goods
buying and selling of goods and services
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