Topic #3 Quiz

Commodities involves those economic transactions that take place inside the geographical boundaries of a country

• true
• False

Export- a commodity, article, or service brought in from abroad for sale.

• true
• false

Commodities- A port is a maritime facility comprising one or more wharves or loading areas, where ships load and discharge cargo and passengers

• true
• False

Gross National Product- any business that operates across international borders.

• True
• False

Trade- the action of buying and selling goods and services.

• True
• False

Import- a tax or duty to be paid on a particular class of imports or exports.

• True
• False

a commodity, article, or service sold abroad.

• Trade
• Import
• Export
• Domestic

an official ban on trade or other commercial activity with a particular country.

• Tariff
• Export
• Import
• Embargo

goods transported in bulk by truck, train, ship, or aircraft.

• Transit
• Freight
• Cargo
• Haulage

Total market value of all goods and services produced in a country in a year.

• Gross Domestic Product
• Consumer Price Index
• Gross National Product
• Gross National Income