Trade

A trade agreement between Canada, Mexico and the US

• NAFTA

• EU

• WTO

• ABC

Which of the following is NOT an argument for free trade?

• increase competition

• allow domestic goods to be sold worldwide

• allow countries to specialize through comparative advantage

• imposing subsidies to protect domestic interest

Countries usually impose restrictions on free foreign trade to:

• Protect Foreign Producers

• Protect Foreign Consumers

• Protect Domestic Producers

• Protect Domestic Consumers

If Brazil has a comparative advantage in producing rubber, and trade of rubber is allowed...

• 
  Brazil will become an importer of rubber.

• Brazil will become an exporter of rubber.

• Brazil could become either an exporter or importer.

• It is impossible to determine whether Brazil will become an importer or an exporter of rubber without additional information about rubber prices.

An additional tariff placed on an imported product that
a nation believes is receiving an unfair subsidy:

If a nation has more exports than imports, it is said to have

• Positive balance of trade

• Negative balance of trade

• International trade potential

• Unfavorable international trade position

A key component of the WTO is the principle of _______ called normal trade relations
that require WTO members to treat all members equally.

... is simply the import and export of goods and services across international boundaries.

In order to ... , companies must first identify their needs and then find companies that can provide those goods or services.

• follow training

• source suppliers

• hire staff

• find premises

Which of the following sentences uses the word 'trade' correctly?

• The trade of the book was very interesting.

• She decided to trade her old car for a new one.

• He was trade to the new school last year.

• They trade the meeting for next week.