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Global Trade Quiz

Authored by Ana Martinez

Social Studies

12th Grade

Used 4+ times

Global Trade Quiz
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28 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the process of the world's economies becoming more interconnected?

Trade Imbalance

Globalization

Negative externalities

Outsourcing

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the dollar value of the final goods and services produced in a country's borders in a given year?

Intermediate Goods

Absolute advantage

Gross Domestic Product (GDP)

Specialization

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a country has significant differences in exports vs imports, it is called?

Trade Surplus

Trade Deficit

Developing Country

Comparative Advantage

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the policy that promotes the elimination of trade barriers, such as tariffs and quotas?

Quota

Free Trade

Protectionism

Tariff

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a tax on imports that one country imposes on another?

Tariff

Embargo

Sanctions

Trade War

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When two countries impose tariffs on each other's goods, usually to force some action, it is called?

Trade War

Absolute advantage

Quota

Protectionism

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a refusal to trade with another country?

Outsourcing

Specialization

Negative externalities

Embargo

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