Free Trade Quiz

Quiz
•
History
•
12th Grade
•
Hard
hisham el.meniawy
Used 2+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who coined the famous expression 'the invisible hand' to describe the operation of a free market economy?
Friedrich List
David Ricardo
Adam Smith
John Maynard Keynes
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which economist is known for his defense of international free trade and theory of comparative advantage?
Friedrich List
David Ricardo
John Maynard Keynes
Adam Smith
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the World Bank's initial function?
Providing aid in the rebuilding of societies destroyed by the war
Assisting the world’s developing nations
Enforcing international trade rules
Reducing tariffs and other obstacles to international trade
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main concern of economic nationalism?
Promoting economic efficiency
Protecting domestic industries from foreign competition
Maximizing the wealth and power of a state
Reducing trade barriers between nations
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main argument for free trade according to Adam Smith?
Serving the interests of the larger community or nation
Efficiency in resource allocation
Maximizing the wealth and power of a state
Promoting national interest
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main concern of the fair trade movement?
Reciprocity in market openness
Promoting economic efficiency
Reducing tariffs and other obstacles to international trade
Maximizing the wealth and power of a state
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main criticism of free trade according to Friedrich List?
It distorts the market and promotes inefficiency
It leads to an efficient economy
It is based on voluntary consumer choices
It serves the interests of the larger community or nation
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