What is the term for countries trading based on mutual supply and demand needs?
Trade and the World Economy Quiz

Quiz
•
Geography
•
9th - 12th Grade
•
Hard
Ian West
Used 1+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Comparative Advantage
Complementarity
Neoliberalism
Agglomeration
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of comparative advantage?
The U.S. importing oil from Saudi Arabia.
China specializing in electronics manufacturing.
The EU providing subsidies to farmers.
Countries using tariffs to protect domestic industries.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Neoliberal policies primarily promote:
Increased government intervention in trade.
Free markets, privatization, and minimal government intervention.
Protectionist trade barriers.
Centralized economic planning.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which trade agreement facilitates trade between the U.S., Canada, and Mexico?
EU
WTO
USMCA (formerly NAFTA)
Mercosur
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which global organization oversees international trade rules?
IMF
OPEC
WTO
EU
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a tariff?
Financial aid for industries.
Import taxes to protect domestic industries.
Environmental and labor laws affecting trade.
Small loans to entrepreneurs.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The 2008 Global Financial Crisis originated in:
Greece
China
The U.S.
Japan
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