Trade Barriers Quiz

What is a tariff?

• A tariff is a subsidy given to domestic producers.

• A tariff is a fee charged for using public transportation.

• A tariff is a discount offered to customers for purchasing a product.

• A tariff is a tax or duty imposed on imported or exported goods.

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SS7E6

What is the purpose of a tariff?

• The purpose of a tariff is to lower consumer prices.

• The purpose of a tariff is to protect domestic industries.

• The purpose of a tariff is to promote economic growth.

• The purpose of a tariff is to increase international trade.

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SS7E6

How does a tariff affect the price of imported goods?

• The price of imported goods decreases.

• The price of imported goods remains the same.

• The price of imported goods fluctuates.

• The price of imported goods increases.

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SS7E6

What is a quota?

• A quota is a predetermined or fixed amount or limit that is set for something.

• A quota is a type of clothing.

• A quota is a unit of measurement.

• A quota is a type of fish.

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SS7E6

What is the purpose of a quota?

• The purpose of a quota is to encourage competition and increase market efficiency.

• The purpose of a quota is to limit consumer choices and restrict freedom.

• The purpose of a quota is to promote unfair trade practices and hinder economic growth.

• The purpose of a quota is to control or regulate the quantity or quality of something.

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SS7E6

How does a quota affect the quantity of imported goods?

• A quota increases the quantity of imported goods.

• A quota has no effect on the quantity of imported goods.

• A quota only affects the quality of imported goods.

• A quota reduces the quantity of imported goods.

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SS7E6

What are the advantages and disadvantages of quotas?

• Quotas have advantages such as protecting domestic industries and promoting economic growth, but they also have disadvantages such as higher prices for consumers and limited competition.

• Quotas have advantages such as lower prices for consumers and increased competition.

• Quotas only have disadvantages such as job losses and reduced consumer choices.

• Quotas have no advantages or disadvantages.

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SS7E6

What is an embargo?

• A term used in sports to describe a tie game

• A type of dance move

• A popular brand of clothing

• A government-imposed restriction on trade or other commercial activity with a particular country or group of countries.

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What is the purpose of an embargo?

• The purpose of an embargo is to exert economic pressure or to punish a country for political reasons.

• The purpose of an embargo is to prevent the spread of infectious diseases.

• The purpose of an embargo is to establish diplomatic relations with other countries.

• The purpose of an embargo is to promote economic growth and trade between countries.

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SS7E6

What is a trade barrier?

• A wall built so people on either side cannot trade with each other.

• A government imposed restriction on the flow of international goods or services.

• The prevention of people trading with each other outside of their city or state.

• A bunch of rules invented by the government to make trade more difficult for everyday citizens.

Tags

SS7E6