WorksheetsTrade & Globalization
Total questions: 20
Worksheet time: 11mins
Sending goods to another country to sell.
import
export
Bringing goods in from another country to sell.
import
export
A policy in which a nation does not try to limit imports or exports by enacting tariffs (taxes on imports) or subsidies (money to assist an industry so prices can remain low).
Free Trade
Trade War
Goods and Services
Supply and Demand
A large company such as McDonalds that has operations in more than one country.
Domestic Corporation
Multinational Corporation
Foreign Corporation
State Corporation
The development of a worldwide economy where resources flow fairly freely across borders.
Globalization
Economy
GDP
Economic Independence
What are some negatives of globalization?
Workers are exploited in sweatshops
Pollution and deforestation
Low wages for factory workers in Asia and Africa
All of the answers are correct
A three-country trade agreement negotiated by the governments of Canada, Mexico, and the United States that took effect in 1989.
The UN
NAFTA
NATO
IMF
When the economy of two countries depend on each other, it's called:
economic interdependence
multinational cooperation
isolationism
outsourcing
When people trade how do both sides benefit?
Countries can focus on producing specific goods from their natural resources instead of trying to create everything they need
Countries can take advantage of each other making the international market more secure
Countries are able to learn the weaknesses of other countries and exploit those for natural resources
Countries are able to enter other countries with spies and foreign agents to undermine governments.
What would be one consequence of a prolonged decline in the value of the euro relative to the U.S. dollar?
European exports to the United States would become less expensive.
U.S. exports to Europe would become cheaper.
European imports from the United States would increase.
U.S. imports from Europe would become more expensive.U.S. imports from Europe would become more expensive.
President Trump has enacted tariffs against China and China has retaliated with tariffs of its own against the United States. This type of situation is known as...
a trade war
free trade
national security
Gross Domestic Product (GDP)
an official ban on trade or other commercial activity with a particular country.
stop
embargo
barr
tariff
Investment by a person or company based in another country is called _____________ .
distribution
economic interdependency
foreign investment
imports
France imposes a limit on Avocado imports from Mexico.
tariff
quota
embargo
What is Fairtrade all about?
better prices and better working conditions
more trade for less money
less money for workers
less crops
When a limit is agreed about of how many of an item can be sent out
Export
Quota
Embargo
VER (Voluntary export restraint)
