BAIB3004 Week 1 Seminar 24/25

BAIB3004 Week 1 Seminar 24/25

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10 Qs

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CH 6: EMERGING COUNTRIES & ECONOMIC INTEGRATION

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BAIB3004 Week 1 Seminar 24/25

BAIB3004 Week 1 Seminar 24/25

Assessment

Quiz

Business

University

Medium

Created by

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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