Unit 2: Activity 5 When is Free Trade

What is Canada's major export according to the World Commodities Map?

• Minerals

• Motor vehicles and parts

• Agricultural products

• Electronics

Which country is identified as the world's largest exporter in the map analyzing the amount of goods and services exported by country?

• United States

• Germany

• China

• Japan

According to the World Trade Organization's International Trade Statistics 2015, what was the value of merchandise exports in 2014?

• USD 4.872 Trillion

• USD 19.002 Trillion

• USD 10.000 Trillion

• USD 15.500 Trillion

What is one of the benefits of free trade mentioned in The Economist article?

• Increased tariffs

• Greater consumer choice

• Reduced competition

• Higher prices

What is one of the common arguments used by pro-protectionism advocates according to the Harvard Business Review article?

• It increases global competition

• It protects domestic jobs

• It lowers consumer prices

• It enhances innovation

How do tariffs, such as the one discussed in The Straits Times article, hinder the principles of free trade?

• By increasing the volume of trade

• By reducing the cost of imports

• By creating trade barriers

• By promoting international cooperation

What is one political disadvantage of the Trans Pacific Partnership (TPP) mentioned in the research?

• It strengthens local industries

• It limits national sovereignty

• It reduces trade opportunities

• It increases tariffs

Which of the following is a potential environmental issue related to globalization and trade?

• Increased biodiversity

• Reduced pollution

• Deforestation

• Enhanced ecosystem protection

What is one of the social issues that can arise from free trade?

• Improved working conditions

• Job displacement

• Increased wages

• Enhanced social welfare

Why might some countries not experience an increased volume of trade between 1990 and 2011?

• Lack of natural resources

• Strong trade agreements

• High levels of industrialization

• Political instability