Trade Barriers Quiz

What is a trade barrier?

• A limit on the amount of a foreign good or service that may be legally imported.

• A prohibition on all trade with people and businesses in a specific country.

• A tax on import.

• A policy reducing or eliminating free trade in a country.

Which of the following is an example of a tariff?

• A prohibition on all trade with people and businesses in a specific country.

• A limit on the amount of a foreign good or service that may be legally imported.

• A tax on import.

• Government payments to exporters.

Which of the following is an example of a quota?

• A policy reducing or eliminating free trade in a country.

• A tax on import.

• A limit on the amount of a foreign good or service that may be legally imported.

• A prohibition on all trade with people and businesses in a specific country.

Which of the following is an example of an embargo?

• A prohibition on all trade with people and businesses in a specific country.

• A policy reducing or eliminating free trade in a country.

• A tax on import.

• A limit on the amount of a foreign good or service that may be legally imported.

Which of the following is an example of a subsidy?

• A policy reducing or eliminating free trade in a country.

• A tax on import.

• A limit on the amount of a foreign good or service that may be legally imported.

• Government payments to exporters.

Which of the following is an example of a standard?

• A policy reducing or eliminating free trade in a country.

• Safety, environmental, health, or other technical requirements set by a government.

• A tax on import.

• A limit on the amount of a foreign good or service that may be legally imported.

The principal announces there will be a tax on all baked goods brought from home to sell at school events.

What is the restriction to selling homemade baked goods in this scenario?

• • Tariff

• • Quota

• • Embargo

• • Subsidy

• • Standard

How will the tax on homemade baked goods affect consumers buying them?

• Consumers will buy more homemade baked goods because they are cheaper.

• Consumers will buy less homemade baked goods because they're more expensive.

• Consumers will buy the same amount of homemade baked goods.

• Consumers will buy homemade baked goods at a lower price.

The principal makes a rule that only ¼ of baked goods sold can be brought from outside the school.

What is the restriction to selling homemade baked goods in this scenario?

• • Tariff

• • Quota

• • Embargo

• • Subsidy

• • Standard

The principal decides to give money to the cafeteria to help pay for costs of making baked goods.  These treats can now be sold at a lower price

What's the barrier used in this scenario?

• • Tariff

• • Quota

• • Embargo

• • Subsidy

• • Standard