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International Trade vocabulary

Total questions: 20

Worksheet time: 21mins

Name
Class
Date
1.

A person or organization that brings goods or services into a country from abroad for sale.

a)

Exporter

b)

Partner

c)

Customer

d)

Importer

2.

A person or organization that buys goods or services from a store or business.

a)

Exporter

b)

Customer

c)

Customs

d)

Seller

3.

Is financially responsible (the buyer) for the receipt of a shipment. Generally, is the same as the receiver.

a)

Exporter

b)

Customs

c)

Consignee

d)

Customer

4.

Can be a freight forwarder also who transfer the goods to main carriers for carriage.

a)

Importer

b)

Shipper

c)

Customs

d)

Consignee

5.

If a consignment is moved to a foreign country, the _______ acts as an exporter or shipper.

a)

Customs

b)

Buyer

c)

Consignor

d)

Customer

6.

It's the authority or organization that controls the flow of goods in and out of a country. Collect the duties or taxes applied to imports and exports.

a)

Customs / Duty

b)

Freight Forwarder

c)

Shipping Agent

d)

Logistics Operator

7.

This agent helps importers and exporters move their goods through customs, prepare documents, assist with communications, and arrange payment of duties.

a)

TAXES BROKER

b)

FREIGHT BROKER

c)

CUSTOMS BROKER

8.
This trade barrier limits the number of products that can be brought into a country.
a)
Tariff
b)
Quota
c)
Embargo
d)
Subsidy
9.
This is a tax on imports that is used to increase price of foreign products and raise government revenue. 
a)
tariff
b)
quota
c)
subsidy
d)
embargo
10.
The money that each country has, like paper bills and coins
a)
scarcity
b)
exchange rate
c)
currency
d)
tariff
11.
Any action a government uses to control trade between countries
a)
Trade barrier
b)
Voluntary trade
c)
Free trade
d)
Specialization
12.
Products brought into a country
a)
Currency
b)
Exchange rate
c)
Export
d)
Import
13.
International trade free of government control and trade barriers
a)
Free trade
b)
Trade barrier
c)
Voluntary trade
d)
Embargo
14.
Products sold to other countries
a)
Currency
b)
Import
c)
Export
d)
International trade
15.
How much one country's money is worth compared to another country's
a)
Exchange rate
b)
Interdependence
c)
International trade 
d)
Currency
16.
When a country won't trade with another country at all
a)
Quota
b)
Embargo
c)
Tariff
d)
Free trade
17.
When a nation imports more than they export, that nation has a
a)
Free trade agreement
b)
Trade surplus
c)
Trade deficit
d)
Trade free economic system
18.
To focus on producing one thing to improve productivity is known as:
a)
Specialization
b)
International trade
c)
Absolute Advantage
d)
Supply and Demand
19.
Tariffs, quotas, and embargos are examples of: 
a)
physical barriers
b)
cultural barriers
c)
political barriers
20.
True or False: Increased competition means lower prices.Less money will go into the domestic market place and this can cause factories to be closed and jobs to be eliminated.
a)
true
b)
false