POLITICAL FORCES and TRADE THEORY

POLITICAL FORCES and TRADE THEORY

University

10 Qs

quiz-placeholder

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POLITICAL FORCES and TRADE THEORY

POLITICAL FORCES and TRADE THEORY

Assessment

Quiz

Business

University

Hard

Created by

Jesilin Manjula N Palanisamy @ James

Used 11+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What term refers to the practice of a government taking ownership of a foreign company's assets?

a) Nationalization

b) Privatization

c) Globalization

d) Diversification

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a political force that can affect international business?

a) Economic stability

b) Cultural diversity

c) Legal regulations

d) Market demand

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a political risk?

a) Exchange rate fluctuations

b) Technological advancements

c) Changes in government policies

d) Social media trends

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to the theory of absolute advantage, who should specialize in the production of a good?

a. The country with the lowest opportunity cost

b. The country with the highest GDP

c. The country with the largest population

d. The country with the most resources

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

"If our country can produce some set of goods at a lower cost than a foreign country and if the foreign country can produce some other set of goods at a lower cost than we can produce them, then clearly it would be best for us to trade our relatively cheaper goods for their relatively cheaper goods." This quote is referring

Globalization

Terms of Trade

Absolute Advantage

Comparative Advantage

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

"Autarky" in international trade theory means:

A closed economy with partial specialization

A closed economy with no trade

A closed economy with total specialization

7.

MULTIPLE SELECT QUESTION

2 mins • 1 pt

What is the expected outcome of trade? (there can be more than one answer)

Optimal use of the resources

More consumption of at least one good.

Exploitation of trading country

Higher utility for residents in the country

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