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MGMT1005 Quiz 4

Authored by Louise Broeng

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MGMT1005 Quiz 4
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is international trade?

International trade is the buying, selling and exchange of goods and services across national borders.

International trade is when economic agents buy, sell or exchange goods and services.

International trade occurs across borders and across products and services.

International trade is when goods and services are exchanged across borders.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why do governments intervene in trade?

Trade intervention occurs when governments try to meet their WTO and economic/political obligations.

Trade intervention is used by governments to create and use influence.

Government intervene in trade for a range of economic, political and cultural reasons.

Governments intervene in trade for a range of reasons - to promote free trade through to meeting the obligations imposed by the WTO.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which instruments do governments use to increase trade?

Political and cultural threats and offers.

Governments use a range of tools to increase trade - from subsidies and export financing through to trade agreements and government agencies.

Trade agreements, lobbying and cash incentives.

The best answer depends on the government we are analysing. However, governments do use a range of promotional strategies from subsidies and licencing through to embargoes and trade agreements.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which instruments do governments use to decrease trade?

Governments use a range of strategies from tariffs and quotas through to laws pertaining to local content and currency controls.

Governments use political tools like lobbying, threats, and legislative requirements.

The instruments used by governments vary from direct embargoes and restrictions to legislative requirements and subsidies.

Governments use the tools provided by the WTO, including the special provisions.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the main goals of the World Trade Organisation (WTO)?

The WTO exists to regulate trade among nations.

The goals of the WTO are the promotion of free trade and open markets, whilst also assisting with trade negotiations.

The WTO goals are to support free trade, assist with negotiations to open markets, and to settle trade disputes among members.

The goals of the WTO are to promote free trade and set policy for it'smembers.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is free trade generally considered beneficial for nations?

It encourages countries to specialise in goods they produce efficiently and trade for others.

It ensures that every citizen benefits equally from trade.

It protects local industries from international competition.

It increases government control over the economy.

7.

FILL IN THE BLANK QUESTION

1 min • 1 pt

David Ricardo’s theory of _____________________ explains that countries should specialise in producing goods they can make most efficiently and trade for those they produce less efficiently.

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