JC International Trade & Globalisation

JC International Trade & Globalisation

12th Grade

16 Qs

quiz-placeholder

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JC International Trade & Globalisation

JC International Trade & Globalisation

Assessment

Quiz

Others

12th Grade

Practice Problem

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Created by

Joe White

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16 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term for an economy in which goods and services are freely traded with other economies?

Isolated economy

Closed economy

Mixed economy

Open economy

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are imports in the context of international trade?

Tax charged on imports

Domestic products

Goods and services bought from other countries

Goods and services sold to other countries

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the difference between visible trade and invisible trade?

Visible trade involves goods, while invisible trade involves services

Visible trade involves services, while invisible trade involves goods

Both involve goods

Both involve services

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the balance of trade?

Difference between visible imports and visible exports

Tax charged on imports

Limit on the quantity of goods produced

Difference between total imports and total exports

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When there is a surplus balance of trade, what does it mean?

Visible exports are greater than visible imports

Visible imports are greater than visible exports

Total exports are greater than total imports

Total imports are greater than total exports

6.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

What is the balance of payments?

Difference between total imports and total exports

Difference between visible imports and visible exports

Difference between visible imports and visible exports

Difference between total imports and total exports

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a tariff in the context of international trade?

Tax charged on exports

Tax charged on imports

Limit on the quantity of goods produced

Ban on the trade of certain goods

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