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WorksheetsTopic 7 International Business
Total questions: 10
Worksheet time: 6mins
An official ban on trade or other commercial activity with a particular country.
Embargo
Export
Import
Tax
Send (goods or services) to another country for sale.
Embargo
Export
Import
Tax
Setting a limit on the quantity of a product that may be imported or exported within a given period to regulate international trade is called?
Tariff
Quota
Embargo
Tax
__________ is a tax that a government places on certain imported products
Tariff
Quota
Embargo
Export
When your exports are less than your imports, this exists?
Trade deficit
Trade surplus
International Business does all of the following EXCEPT:
Expands business opportunities
Decreased Competition
Increased sources of raw materials
Improved political relations
Expanding to international business will create more jobs
True
False
Which of the following statements is not a reason why world trade is sometimes necessary?
A country cannot produce a desired good because it does not have a suitable climate.
A business in one country may produce better products or services at cheaper prices than businesses in other countries.
A country may not have the necessary resources to produce certain products.
A country’s government may make the production of a certain good illegal.
All of the following are reasons to restrict trade except
foreign competition can lower the demand for products made at home.
companies at home need to be protected from unfair foreign competition.
foreign companies’ products may be more expensive than products produced at home.
other countries may not have the same environmental or human rights standards.
The difference between imports and exports is called
Balance of Power
Trade Deficit
Balance of Trade
Loss
