Yr13 GS&G Trading quiz

How many members of ASEAN are there?

• 10

• 20

• 30

• 40

What does ASEAN aim to promote?

• Collaboration and co-operation for economic and trade growth

• Tariffs and quotas

• Trade globally outside of the bloc

• Alliance beyond Asia

If ASEAN was a country it would be...

• The 2nd largest economy globally

• The 4th largest economy globally

• The 7th largest economy globally

• The 10th largest economy globally.

ASEAN has the...

• 2nd largest work force combined globally

• 3rd largest work force combined globally

• 4th largest work force combined globally

• 5th largest work force combined globally

ASEAN have established positive trading agreements with China. They are now..

• The 1st largest trading partner

• The 2nd largest trading partner

• The 3rd largest trading partner

• The 4th largest trading partner

Which of the following nations is not part of ASEAN?

• India

• Thailand

• Malaysia

• Indonesia

The World Trading Organisation is a body of member states who aim to...

• Increase quotas and tariffs

• Lowering trade barriers in member states

• Limiting trade to specific regions

• Reducing carbon footprints of trade

Comparative advantage is..

• Specialising on certain goods

• Limiting trading partners

• Charging less for goods

• Increasing market value by expanding good selection

Product dumping is...

• Selling products at a higher value

• Removing goods from sale

• Good sold at a potential loss

• Goods that are faulty

Economies of scale is..

• Larger range of goods at lower prices

• Smaller range of goods but produced at better quality

• Larger range of goods at higher prices

• Higher prices but lower range of goods