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Free Trade and Trade Barriers 1

Total questions: 60

Worksheet time: 55mins

Name
Class
Date
1.

All these are types of Trade Barriers except

a)

Physical Barriers

b)

Cultural Barriers

c)

Technological Barriers

d)

Economic Barriers

2.

One of these is an example of Cultural Barrier to trade.

a)

Language

b)

Tariff

c)

Quota

d)

Embargo

3.

The Sahara Desert in North Africa is an example of __________ Barrier to trade.

a)

Physical

b)

Cultural

c)

Economic

d)

Technological

4.

Embargo, Quota and Tariff are examples of _________ Trade Barriers.

a)

Physical

b)

Cultural

c)

Religious

d)

Economic

5.

Free trade means there are no trade barriers, like tariffs. Which countries enjoy free trade?

a)

Spain, Italy, Germany

b)

Spain, Italy, France

c)

Spain, France, Germany

d)

Spain, France, Germany

6.

What is a tariff?

a)

Tax on imported goods

b)

To stop trading with a business or country

c)

A limit on imported goods

7.

A quota is a limit on an imported good. Which is an example of a quota helping local farmers?

a)

Taxing corn from another country.

b)

Allowing less corn to be bought from other countries' farms.

c)

To stop buying corn from another country

8.

Russian government found deadly chemicals in German hamburgers. What will keep Russians safest?

a)

An embargo against German hamburger meat producers

b)

A tariff on German hamburgers

c)

A quota on German hamburgers

d)

Free trade with German hamburger producers

9.

You are on a trip to Germany. You swap your dollars for Euros. Why exchange currency?

a)

To buy or sell goods in Germany; they won't take dollars.

b)

Because dollars are worth the same as other currency

c)

Because Euros are a great souvenir.

10.

Goods and services a country produces and sells to other countries

a)

imports

b)

exports

c)

demand

d)

supply

11.

Goods and services brought in from other countries

a)

supply

b)

exports

c)

imports

d)

tariff

12.

A tax on imports

a)

tariff

b)

import tax

c)

supply

d)

embargo

13.

A limit to the number of imports that may enter a country

a)

tariff

b)

embargo

c)

demand

d)

quota

14.

A government order stopping trade with another country

a)

tariff

b)

embargo

c)

quota

15.

Rules used to try to limit trade with other countries

a)

embargo

b)

tariff

c)

trade barriers

d)

quota

16.

Which is an example of a quota?

a)

The U.S. stops trade with China.

b)

The U.S. limits the amount of foreign cars brought into our country.

c)

The U.S. pays a high tax on BMW cars brought into the country.

17.

Choose an example of an embargo

a)

The U.S. government stops all trade with China.

b)

Canada and the U.S. have no restrictions on trade.

18.
Japanese auto firms agree to limits set in Washington D.C., on the # of Japanese cars that may be sold in the U.S.
a)
Embargo
b)
Quota
c)
Tarriff
d)
Standard
19.
A free-trade zone means:
a)
You don't have to pay money to get items.
b)
There are no tariffs between the countries in this zone.
c)
Trade happens less often.
d)
Trade does not happen.
20.
In 1962, the United States prohibited all imports and exports to and from Cuba.
a)
Tariff
b)
Embargo
c)
Quota
21.

Which type of trade barrier involves a limit on goods brought into the country?

a)

quota

b)

tariff

c)

embargo

d)

voluntary exchange

22.

In order to help Nigerian farmers sell more food, the government puts a tax on the food imported from other countries. This is an example of a(n)

a)

quota

b)

tariff

c)

embargo

d)

voluntary exchange

23.

Which might make an embargo against a country successful?

a)

Merchants are able to continue doing business.

b)

People in the country are not affected by the embargo.

c)

The country does not need to trade with other countries.

d)

The citizens in the country suffer because of the embargo and demand a change from their government.

24.

What is a problem with exchanging currency?

a)

People make more money by trading currency.

b)

Most people want to use American dollars to trade.

c)

Banks do not like to exchange their money for other currencies.

d)

It costs more to do business because banks charge fees for exchanges.

25.
Money that people to use to make trade easier is called
a)
credit cards
b)
taxes
c)
tariff
d)
currency
26.
A government order to stop trade with another country is called a(n)
a)
tariff
b)
quota
c)
embargo
d)
currency
27.
A tax on imports is called a(n):
a)
tariff
b)
quota
c)
embargo
d)
currency
28.

Any activity which slows or outrightly blocks the free exchange of goods and services between countries is _____.

a)

Voluntary Trade

b)

Specialization

c)

Currency Exchange

d)

Trade Barrier

29.
Example: The U.S. president increased the amount of imported peanuts allowed into the country by 100 million pounds per year.
a)
Quota
b)
Tariff
c)
Embargo
30.

_______ makes imported goods more expensive.

a)

Quota

b)

Tariff

c)

Embargo

31.
NAFTA caused trade barriers to be reduced resulting in-
a)
surge in immigration
b)
decline in factory production
c)
decrease in price of goods
d)
rise in taxes on products
32.

________ limit the flow of goods, services and productive resources between countries.

a)

trade surplus

b)

trade barriers

c)

balance of trade

33.

__________ refers to the unrestricted flow of goods, services, and productive resources between countries.

a)

free trade

b)

balance of trade

c)

trade surplus

d)

trade deficit

34.

________ is the use of trade barriers to protect a nation’s industries from foreign competition.

a)

Balance of trade

b)

NAFTA

c)

Quotas

d)

Protectionism

35.
Why was OPEC created?
a)
To regulate the supply and price of oil
b)
to help the Palestinians in their problems with Israel
c)
to design new machinery to get oil out of the ground
d)
to keep countries that are not members from producing any oil
36.

Free trade means ____________

a)

the countries use the same currency

b)

No trade barriers

c)

there is a quota on some goods

d)

trade is quick and easy

37.

An international trade treaty designed to encourage worldwide trade among its members

a)

NAFTA (North American Free Trade Agreement)

b)

GATT (General Agreement on Tariffs and Trade)

c)

WTO (World Trade Organization)

38.
When countries rely on each other for resources, goods, or services. 
a)
Specialization
b)
Interdependence
c)
Scarcity
d)
Trade
39.
The money that each country has, like paper bills and coins
a)
scarcity
b)
exchange rate
c)
currency
d)
tariff
40.
To swap products with someone
a)
Trade
b)
Specialization
c)
Exchange rate
d)
Import
41.

When there isn't enough of something, there is _______.

a)

Embargo

b)

Quota

c)

Specialization

d)

Scarcity

42.

Trading between countries is ____________.

a)

Exchange rate

b)

Embargo

c)

International Trade

d)

Voluntary Trade

43.
Any action a government uses to control trade between countries
a)
Trade barrier
b)
Voluntary trade
c)
Free trade
d)
Specialization
44.
When people trade because they both want what the other person has
a)
Trade barrier
b)
Voluntary trade
c)
International trade
d)
Free trade
45.
An extra price or tax added onto imported products
a)
Embargo
b)
Tariff
c)
Quota
d)
Exchange rate
46.
International trade free of government control and trade barriers
a)
Free trade
b)
Trade barrier
c)
Voluntary trade
d)
Embargo
47.
A limit on how much of something may be imported
a)
Trade barrier
b)
Tariff
c)
Embargo
d)
Quota
48.
Products sold to other countries
a)
Currency
b)
Import
c)
Export
d)
International trade
49.
How much one country's money is worth compared to another country's
a)
Exchange rate
b)
Interdependence
c)
International trade 
d)
Currency
50.
When a country won't trade with another country at all
a)
Quota
b)
Embargo
c)
Tariff
d)
Free trade
51.

It decides the price and amount of oil made each year in big oil countries like Nigeria, Iran, Iraq, Saudi Arabia, and Kuwait

a)

Organization of Petroleum Exchanging Countries

b)

Organization of Petroleum Expecting Continents

c)

Organization of Price Control

d)

Organization of Petroleum Exporting Countries

52.
the concept of free trade means 
a)
the reduction of tariffs and subsidies in countries so they are no longer as large as they were in the past 
b)
the removal of all trade barriers both direct and indirect to facilitate more efficient use of scarce resources 
c)
the free movement of all goods, service , ideas, people, money and technology across the globe 
d)
trade which is based on the cheapest prices due to the benefits of perfect competition and economies of scale 
53.

The main advocate of free trade in the world today is ______.

a)

GATT

b)

World trade forum

c)

UN

d)

WTO

54.

The main benefits of free trade include

a)

peace , better choice , prices and quality

b)

less imports because they cant penetrate strong markets

c)

the sharing of the world s resources

d)

greater benefits for less developed economies as they can trade more

55.
If there are only 100 televisions on sale and 200 people want to buy TV's, that is a problem of ____. 
a)
desire
b)
demand
c)
supply
d)
scarcity
56.

A tariff....

a)

encourages people to buy goods made from their country.

b)

increases trade between other countries.

c)

stops trade completely.

d)

is only placed to encourage democracy.

57.
Japan mainly produces electronics & automobiles. This is an example of:
a)
Interdependence
b)
Specialization
c)
Trade barrier
d)
Exchange rate
58.
What is a quota?
a)
A government order to stop trade.
b)
A limit placed on imports.
c)
A tax placed on imports.
59.
Money that people to use to make trade easier is called
a)
credit cards
b)
taxes
c)
tariff
d)
currency
60.
The resources used to produce a good and service are__________________________.
a)
factors of production
b)
factors of pollution
c)
factors of consumption
d)
factors of distribution

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