Importance of International Trade

Importance of International Trade

9th - 11th Grade

10 Qs

quiz-placeholder

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Importance of International Trade

Importance of International Trade

Assessment

Quiz

Business

9th - 11th Grade

Practice Problem

Hard

Created by

Khairunnisa Said

Used 10+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Why might a company benefit from international trade?

It can charge import duties on foreign goods and services.

It can expand its trade in the home market.

It can export goods and services into a larger market.

It can increase the country’s Balance of Payments.

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What is entrepôt trade?

arranging trade between two countries

exporting goods which have previously been imported

importing duty-free goods only

selling more cheaply abroad than at home

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Why does a country import raw materials from other countries?

to assist home production

to obtain customs revenue

to improve the balance of trade

to protect home industries

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Why are imports important to a country?

A greater variety of goods are made available.

More money is brought into the country.

The Balance of Trade is improved.

The imports compete with local industries.

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which statement explains why international trade is important?

Businesses can concentrate on expanding in the home market.

Many countries produce surpluses of goods to sell.

There are currency and language differences between countries.

Trade enables workers to become more efficient and productive.

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image

The diagram shows trade between France and Mauritius.


This diagram suggests that France and Mauritius are

competitors

primary producers

interdependent

self-sufficient

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

An export is what the country sells to other countries

True

False

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