NEW
Font size
WorksheetsInternational Market
Total questions: 10
Worksheet time: 25mins
Which description best explains the term "trade deficit"?
exchange of capital, goods, and services across international borders or territories because there is a demand for those goods or services
an amount by which the cost of a country's imports exceeds the cost of its exports
the amount by which something, especially a sum of money, is too small
an excess of expenditure over income or assets in a given period
Please choose one description which best explains the term "free trade"!
It is a special privilege that is given by a country to send in goods to another country.
It is an agreement between two countries or members of a trade bloc to improve trading system in their territory.
It is a policy that protects domestic industries from unfair competition from foreign ones.
It is a condition which allows goods come into and out a country without any controls or taxes.
"Countries which truly believe in free trade have open borders and few controls of goods at customs"
What is the meaning of "customs" in this sentence?
a set of clothes
the official organization responsible for collecting taxes on goods coming into a country and preventing illegal goods from being brought in
the official government's organization which gives a license for export and import activities
an entry screening done on arrival at the destination airport
Based on the recording, which condition might happen when there is a policy of deregulation?
consumers in free-trade areas will have greater choice of high quality goods at lower prices
companies compete freely in the market without government control or subsidies
competition among companies will be tougher
all the above
Based on the recording, why do so many countries apply protectionism and not allow free market?
They want to fight against unfair competition, for example: dumping.
They want to protect strategic industries which are important to their economy.
They want to be less reliant on imports because their own economies need developing.
All the above
"Firstly, some people say, why should we practice free trade if other nations compete unfairly? For example, dumping is fairly common in international trade."
What is the meaning of "dumping" in the context of international trade?
It's when a country or company exports a product at a price that is lower in the foreign importing market than the price in the exporter's domestic market.
It's an unfair trade practice.
It's a price war in a foreign market.
It's the disposal of garbage, waste, or unwanted material, typically in a careless or hurried way.
Continue the following sentence with the right match.
"You should carry out .............................................."
all regulations if you want the delivery to go through without problems.
insurance cover for the shipment.
a market survey before you make a major investment.
the delivery date, let us know as soon as possible.
Continue the following sentence with the right match.
"Let us know if you want to arrange ............................."
the Japanese market.
the delivery date, let us know as soon as possible.
all regulations if you want the delivery to go through without problems.
insurance cover for the shipment.
"The US should focus on improving its overall economic competitiveness instead of seeking protectionism to combat its economic slowdown"
What is the meaning of "protectionism"?
It is an economic policy applied by countries' government to solve price war.
It is an economic policy applied by countries’ governments to protect their domestic businesses and industries from foreign competition
It is an economic policy to improve export and import activities.
It is an economic policy to preserve the openness of trade between countries.
"An open US and an open China will lead to sustained benefits for both US companies and citizens back home."
What is the best synonym for "sustained"?
help
ended
continuous
important
