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What is free trade?

• A policy that restricts trade between countries through tariffs and quotas.

• A policy that allows international exchange of goods and services without barriers.

• A system where only specific goods can be traded internationally.

• A policy that limits imports but promotes exports.

Which year was the ASEAN Economic Community (AEC) established?

• 2010

• 2013

• 2015

• 2017

What is one key feature of the AEC’s free trade policy?

• Increasing tariffs on imported goods.

• Promoting monopolies in domestic markets.

• Eliminating or reducing tariffs on goods traded within ASEAN.

• Limiting labor mobility across ASEAN countries.

Which country is known as the "Detroit of Asia" for its specialization in vehicle assembly?

• Vietnam

• Thailand

• Indonesia

• malaysia

How has the AEC supported Vietnam’s economic growth?

• By creating an export-driven economy with access to regional markets.

• By imposing high tariffs on imported goods.

• By restricting FDI from global companies

• By discouraging the production of agricultural goods.

What is one disadvantage of free trade within the AEC?

• Decline of domestic industries in less competitive countries.

• Reduction of consumer choice.

• Increase in tariffs for goods traded within ASEAN.

• Elimination of foreign investments.

Which ASEAN countries have faced criticism for deforestation due to palm oil production?

• Singapore and Thailand

• Cambodia and Laos

• Vietnam and the Philippines

• Indonesia and Malaysia

What is one social benefit of free trade?

• Reduced consumer choice.

• Creation of employment opportunities in export-oriented industries.

• Erosion of local cultures and traditions.

• Increased monopoly power in domestic markets.

Which ASEAN country benefits significantly from Samsung’s investments in manufacturing?

• Brunei

• Myanmar

• Thailand

• Vietnam

Which ASEAN country is a leading producer of palm oil?

• thailand

• Indonesia

• Vietnam

• Singapore