International Business Law Quiz

International trade is trade between...

• Country with another country

• One company with many branches

• Two individuals from the same country

• Country with domestic companies

• Government with local companies

The purpose of international trade law includes...

• Increasing the volume of world trade

• Limiting trade for developing countries

• Increasing world trade tariffs

• Assisting domestic trade

• Reducing international transactions

One of the principles of international trade law is...

• Freedom of contract

• Social justice

• Freedom of politics

• Economic solidarity

• Trade veto rights

The principle 'Pacta Sunt Servanda' in international trade law means...

• All agreements must be executed in good faith

• Contracts can be unilaterally canceled

• Agreements only apply in the country of origin

• Agreements must be reported to the government

• Trade contracts only apply temporarily

WTO was established in the year...

• 1995

• 1992

• 1993

• 1994

• 1996

One of the functions of the WTO is...

• Monitoring national trade policies

• Setting national trade tariffs

• Regulating cross-border labor

• Establishing military agreements

• Regulating domestic resource allocation

In resolving international trade disputes, the first mechanism usually pursued is...

• Negotiation

• Arbitration

• Mediation

• Conciliation

• Court

Subjects of international trade law include...

• Countries, international trade organizations, and individuals

• Only central governments

• Local social organizations

• Domestic legal entities

• Multinational companies

One of the objectives of international trade law is...

• Increasing the standard of living for humans

• Limiting foreign trade

• Reducing job opportunities

• Protecting domestic companies

• Abolishing international trade

International trade law that regulates trade behavior between countries is called...

• Public international law

• Private international law

• International civil law

• National trade law

• Domestic business law