BAIB3004 Week 1 Seminar 24/25

Quiz
•
Business
•
University
•
Medium
Rita Gao
Used 3+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is international trade?
Trade between regions within a country
Trade between different countries
Trade between provinces
Trade between cities
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a common reason for engaging in international trade?
To reach new markets
To reduce production costs
To avoid tariffs
To increase domestic competition
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a tariff in international trade?
A limit on the quantity of imported goods
A tax on imported goods
A subsidy for exported goods
A trade agreement between countries
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the term "dumping" refer to in international trade?
Discarding excess inventory in foreign markets
Selling goods abroad at a price lower than in the domestic market
Importing more goods than a country can consume
Exporting environmentally harmful products
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which organisation deals with the rules of trade between nations?
International Monetary Fund (IMF)
World Trade Organisation (WTO)
World Bank
United Nations (UN)
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a "trade deficit"?
When a country's exports exceed its imports
When a country's imports exceed its exports
When a country has no international trade
When two countries have equal trade
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a "free trade agreement" (FTA)?
An agreement to trade goods for free
A pact between countries to reduce or eliminate trade barriers
A contract to exclusively trade with one country
An agreement to trade only in local currencies
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