Economics Trade Test

Economics Trade Test

6th - 8th Grade

14 Qs

quiz-placeholder

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Economics Trade Test

Economics Trade Test

Assessment

Quiz

Social Studies

6th - 8th Grade

Medium

Created by

Bianca Woods

Used 147+ times

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14 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Use the scenario to answer the question.


The United Kingdom customs service has found toxic lead-based paint in toys imported from a Chinese toy company. These toys are intended for sale in the United Kingdom. Exposure to the paint over a long period of time could be fatal to children under 6 years old.


What type of trade barrier would guarantee that no child in the United Kingdom would be exposed to the deadly lead-based paint?

tariff

quota

embargo

exchange rate

2.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Use the scenario to answer the question.


Adam and Amanda owned a small store where they sold designer purses. They received a shipment of lovely handbags from France. They had ordered 100 but were only allowed to purchase 50.


What type of trade barrier is being described?

tariff

quota

embargo

exchange rate

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

When would the European Union be MORE LIKELY to set a trade embargo on an outside country instead of a tariff?

If its goal was to continue importing from that country.

If its goal was to enforce a penalty against that country.

If its goal was to keep prices in its own economy constant.

If its goal was to make its own economy more competitive.

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

What is the purpose of a tariff?

to decrease the prices of imported goods to a country, so people can buy what they need for the lowest cost

to increase the prices of imported goods and protect a country's industries from foreign competition

to increase the prices of exported goods so a country's businesses are less likely to send their products to other nations

to decrease the prices of exported goods so people in other countries will buy the foreign nation's product over one from their country.

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Why is it important for nations to have a system for exchanging from one currency to another?

The dollar is the most valuable currency in the world

Banks are not able to deal with different types of currencies.

Exchanging to different currencies makes products cost less.

Exchanging currencies makes it possible to buy and sell goods from different nations.

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

How do Germany and France both benefit from being members of the European Union

The European Union refuses to allow The United States to join.

The European Union uses more trade barriers than the United States.

The European Union enacts tariffs instead of quotas for the United States.

The European Union does not use trade barriers against member countries.

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

What relationship exists between literacy rate and the standard of living in Europe?

There is no relationship between literacy rate and standard of living.

Countries generally have a low literacy rate and high standard of living.

Countries generally have a high literacy rate and high standard of living.

Countries generally have a high literacy rate and a low standard of living.

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