1Q03 tutorial - week 4

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8 Qs

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1Q03 tutorial - week 4

1Q03 tutorial - week 4

Assessment

Quiz

English

University

Practice Problem

Easy

Created by

Zan Dominick

Used 1+ times

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8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What is international trade?

traveling overseas

exchange a capital, goods, and services across international borders

trading money

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What is comparative advantage?

comparing better than someone else

having an advantage in a business

producing a good or service more cost-effectively than other producers

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Free trade is....

trade between countries with as few restrictions or limitations as possible

trade for free

a skill humans develop

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What is a sanction?

a type of sandwich

government rules

laws passed to restrict or get rid of trade with certain countries

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What is an import?

when a country sends a product to another country

when a country buys a product from other countries

a business name

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What is an export?

when a country sells its product in other countries

when a country buys product from somewhere else

a type of drink

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What is a tariff?

A type of car

Tax given by one country on the goods and services imported from another country

Taxes that are placed on fast food

8.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What is an import quota?

A quote about trade

The number of items that can be exported by a country

A type of trade restriction that sets a limit on the quantity of a good that can be imported into a country