
International Trade
Quiz
•
Financial Education
•
12th Grade
•
Practice Problem
•
Hard
Kudaibergenov Yernar
FREE Resource
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30 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
How does international trade affect economic well-being?
It always improves economic conditions.
It always worsens economic conditions.
It has no influence at all.
It can both improve and worsen economic conditions.
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What happens to textile prices in Isolandia if the country opens international trade?
Prices remain unchanged.
Prices become equal to world prices.
Prices decrease.
Prices increase.
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Who benefits from free trade in the textile industry?
Producers benefit, while consumers lose.
Only producers.
Consumers benefit, while producers lose.
Only consumers.
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is a tariff?
Tax on all goods.
Tax on domestic goods.
Tax on imports.
Tax on exports.
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following factors is not an advantage of international trade?
Increase in the variety of goods.
Decrease in the quality of goods.
Decrease in prices through economies of scale.
Increase in competition.
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What argument against free trade is related to national security?
National security has nothing to do with trade.
Free trade increases dependence on other countries.
Some industries are important for the country's defense.
Free trade is always safe.
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What happens to consumer surplus when the price of textiles increases?
Consumer surplus increases.
Consumer surplus decreases.
Consumer surplus disappears.
Consumer surplus remains unchanged.
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