Free Printable BBB4M

Worksheets

BBB4M

Total questions: 15

Worksheet time: 8mins

Name

Class

Date

An import quota is a

tax on import quantities above the legal limit.

way to increase tariff revenues for the exporting country.

legal limit on the amount of a good that can be imported into a country.

legal incentive for members of WTO to increase their exports of a good or service.

What are tariffs?

political boundaries between nations

military blockades of specific countries

disputes between state governments over boundaries

taxes on the import or export of goods from a country

When one country refuses to trade with another country because of political or infringements of human rights it is called:

standard of care

subsidy
subsidy

embargo

revenue tariff

refusing to buy, sell or use certain groups

rebellion

boycott

tax

rebellion

Why are most countries better off specializing in the production of particular goods, and then trading with other nations to obtain whatever else they need?

Transportation costs are lower than they were a century ago.

Resources are not evenly distributed among countries.

Greater investment of capital goods increases productivity.

People have limited resources to satisfy unlimited wants.

An import is a

Good/service brought into a country

Good/service sent to another country

Good brought into a country

An export is a

Good/service brought into a country

Good/service sent to another country

Good brought into a country

True or False: A trade barrier is something that blocks or hinders trade from happening?

True

False

When a country has the ability to produce a product at a lower opportunity cost than another country.

Comparative Advantage

Favorable Advantage

Absolute Advantage

Positive Net Export

10.

When a country has the ability to produce more of a product relative to another country.

Absolute Advantage

Favorable Balance of Favorable Balance of Trade

Positive Net Export

Comparative Advantage

11.

Mobility is the willingness to relocate to another location for better employment opportunities

True

False

12.

In a culture with strong business and family ties

Protecting a family member is sometimes more important than a good business decision

Family members are usually promoted first in family owned business

Several members of a family may work in the same business

All of the above

13.

Of the following language related statements, the only statement that is true is

English is the only language ever used for international business purposes

International business persons often prefer to transfer to transact business in their native language, even if they speak English well

Japanese is a language used by one unimportant trading country

For a career in international business, you need to learn at least ten languages besides your native language

14.

Which of the following countries are there strong ties between family and business

Mexico

Austrailia

Canada

The United States

15.

A system of learned, shared, and unifying beliefs, values, and assumptions is known as _________________

Culture

Collectivism

Individualism

Values

Reset

BBB4M

Total questions: 15

Worksheet time: 8mins

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