
International Trade Quiz
Authored by Sophie Fidge
Business
10th Grade
Used 1+ times

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23 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Define import.
The act of bringing goods or services into a country from abroad for sale.
The act of sending goods or services to another country for sale.
The exchange rate between two currencies.
The cost associated with transporting goods across international borders.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Define export.
The act of sending goods or services to another country for sale.
The act of bringing goods or services into a country from abroad for sale.
The exchange rate between two currencies.
The cost associated with transporting goods across international borders.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do you calculate exchange rates?
By determining the cost of one currency in terms of another currency.
By adding the value of imports and exports.
By calculating the difference between the inflation rates of two countries.
By using the interest rates set by the central banks of two countries.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does SPICED stand for?
Strong Pound Imports Cheaper Exports Dearer.
Strong Performance In Currency Exchange Dynamics.
Special Pricing In Economic Development.
Strategic Policies In Economic Diversification.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does WPIDEC stand for?
Weak Pound Imports Dearer Exports Cheaper.
World Pricing Index and Economic Conditions.
Weak Performance In Domestic Economic Circumstances.
Worldwide Policies In Economic Diversification.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does a strong pound mean?
UK business which exports products
Foreign competitors
UK businesses which import products
UK businesses which sell products to the home market
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does a weak pound mean?
UK business which exports products
Foreign competitors
UK businesses which import products
UK businesses which sell products to the home market
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