Econ Unit 5 Vocab Quiz: International Trade

Econ Unit 5 Vocab Quiz: International Trade

12th Grade

10 Qs

quiz-placeholder

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Econ Unit 5 Vocab Quiz: International Trade

Econ Unit 5 Vocab Quiz: International Trade

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Easy

Created by

Ricardo Higuera

Used 8+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term for goods and services brought into a country from another country?

Exports

Imports

Tariffs

Trade Barriers

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which organization oversees and facilitates global trade agreements and resolves trade disputes?

International Monetary Fund (IMF)

World Trade Organization (WTO)

United Nations (UN)

World Bank

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term for a tax imposed on imported goods and services to protect domestic industries?

Free Trade

Tariffs

Trade Embargo

Outsourcing

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the practice of obtaining goods or services from an external or foreign supplier to reduce costs called?

Globalization

Outsourcing

Protectionism

Free Trade Agreement

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which term describes the unrestricted flow of goods and services between countries?

Protectionism

Free Trade

Trade Barriers

Trade Deficit

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term for a company that operates in multiple countries?

Multinational Corporation (MNC)

Trade Embargo

Comparative Advantage

Supply Chain

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term for policies or restrictions that make it difficult or expensive to trade?

Trade Barriers

Free Trade Agreement

Globalization

Trade Deficit

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