WorksheetsTrade Review
Total questions: 10
Worksheet time: 7mins
What are the types of exchange?
Cash, Card, and Virtual (Bitcoin)
Virtual (Bitcoin), Barter, and Money
Coins, Barter, and Card
Cash, Card, Goods and Services
What is a cost (disadvantage) of having trade barriers?
Increase local goods
Fewer jobs available
Improve consumer protection
Which of following is not a unit in the International Trade Agreement (ITA)?
Finance
Global Markets
Industry and Analysis
Enforcement and Compliance
What is trade deficit?
When the value of something is high
When you want to trade something that has little value
When the value of one item being received is worth more than what is being exported
When the value of one item being received is not worth more than what is being exported
Which statement is true?
Trade is not the basic economic concept that involves the buying of goods
Trade is the concept of buying goods
Trade is the basic economic concept that involves the buying and selling of goods and services
Trade is focused on only the selling of goods
Tariffs are a commonly used trade barrier?
True
False
What is trade surplus?
The gaining of many goods
An economic measure of a positive balance of trade, where a country's exports exceed its imports
The selling of many goods and services
Trade barriers are placed around areas that may be restricted to trade with by the government
True
False
Which statement is true about trade barriers?
Trade barriers are not an important part for trading
Trade barriers are less likely to be found in high countries than middle and low income countries
Trade barriers help strengthen the competitiveness of the U.S. trade industry
What is medium of exchange?
A tool used to help rate a trade
A system that generates what a person can or cannot trade
A system that is used to facilitate the sale, purchase, or trade of goods that happen between parties
