Introduction to Global Trade WEEK 8 MAY 25D BUSINESS ENVIRONMENT

What is the definition of global trade?

• The exchange of goods, services, and capital within a country

• The exchange of goods, services, and capital across international borders

• The exchange of information between companies

• The exchange of goods only between neighboring countries

Which of the following is NOT a key driver of global trade expansion?

• A) Advanced technology

• B) Efficient transportation systems

• C) Digital communication

• D) Local-only business operations

Global trade represents _______ of global GDP.

• 60%

• 30%

• 80%

• 45%

Apple sources components from how many countries for its global supply chain?

• 10

• 25

• 43

• 60

Refer to the map showing Apple's global supply chain. Where are Apple chips sourced from?

• China

• Taiwan

• Australia

• United States

Which of the following best describes a Common Market?

• Reduced or eliminated tariffs between member countries

• Common external tariffs plus free movement of goods

• Freedom of movement for goods, services, capital and people

Fill in the blank: Customs Unions involve common external tariffs plus free movement of _____

• goods

• people

• services

• capital

Which type of economic bloc is characterized by reduced or eliminated tariffs between member countries?

• Common Markets

• Customs Unions

• Free Trade Areas

Economic blocs create regional integration through formal agreements between countries.

• True

• False

By how much do economic blocs boost trade among members?

• 10-20%

• 30-40%

• 50-60%