WorksheetsChapter 39: Trading Blocs
Total questions: 27
Worksheet time: 27mins
Which of the following countries make up NAFTA?
United states, Canada, Alaska
United states, Canada, Mexico
United states, Canada, Iceland
United States, Alaska, Mexico
The European Union is one powerful global economic bloc. ASEAN is best described as being:
A free trade zone
A confederation of states
A monetary union
Political union
what is the main reason behind introducing Euro as common currency
Promotes economic sovereignty
Protect business from currency fluctuations
allow free movement of people
None of the above
Which of the following countries is not a member of the EU?
Croatia
Spain
Malta
Turkey
A common or single market will have all of the following features except:
No internal trade barriers
Common external tariff
Factor and asset mobility
A common currency
What is the purpose of NAFTA?
To increase trade between the countries of North America
To help Canada become a more independent nation
To eliminate the environmental issues between the nations involved
Define trading bloc.
Groups of countries that agree to reduce or eliminate trade barriers between themselves
Union that adopts a common currency
Measure of the the price of a country’s exports relative to its imports.
refers to the value of exports minus imports.
Limit on the amount of a product imported into a country during a specific period of time.
trade agreement
tariff
trading bloc
quota
Which of the following countries make up NAFTA?
United states, Canada, Alaska
United states, Canada, Mexico
United states, Canada, Iceland
United States, Alaska, Mexico
Computers made in China are used by students in London is an example of...
import
export
Which EU body prepares the budget?
the European Commission
the European Parliament
the European Council
the Council of the European Union
What type of currency is used in the EU (European Union)?
Peso
Lyre
Euro
Dollar
Group of countries that join together to trade as if they were a single country.
trading bloc
trade policy
NAFTA
trade agreement
Governmental order that prohibits trade with a foreign country.
quota
international trade
trade barrier
embargo
Nations engage in international trade because most countries do not have the factors of production needed to produce all the goods and services needed by their population.
True
False
The nature of trade regulations is to promote far competition and honest business practices in the global marketplace.
True
False
Which trade block belongs to Africa?
NAFTA
EU
ASEAN
SACU
