Global/International Trade Quiz

Its purpose is to reduce trade barriers and promote international trade.

• Free trade Agreement

• General Agreement on Tariffs and Trade

• General Agreement on Trade in Services

• Preferential Trade Agreements

Business Transactions can be done in various ways:

• Licensing

• Management Contracting

• Franchising

• All of the above

The process by which people and goods move easily across borders.

• Import

• Export

• International Trade

• Globalization

What is the primary reason for imposing tariffs?

USA decided to buy coconut products from the Philippines. This is an example of:

• Import

• Export

• Free Trade

• Purchasing

How many members does WTO has?

• 164

• 146

• 128

• 126

Refers to a collaboration between multiple parties who work towards a common goal of creating a profitable project or enterprise. By pooling their resources and expertise, the parties involved share the risks associated with the development of the project.

• Licensing

• Franchising

• Joint Venture

• Multinational Corporation

A business agreement where one organization grants permission to another organization to produce its product for a mutually agreed-upon fee.

• Joint Venture

• Licensing

• Franchising

• Multinational Corporation

A situation where a company may be involved in a business transaction, other countries, in general, attempts to market the production to another country.

• International Trade

• Free Trade

• International Business Growth

• International Marketing

What is the importance of World Trade Organization?