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WorksheetsInternational Trade
Total questions: 20
Worksheet time: 16mins
What is the definition of 'International Trade'?
The buying and selling of goods and services between different countries
Exchanging goods and services within a country
is exchanging of goods and services between two parties in return for payment. It can be domestic or international
The free movement of people across countries
The historic difference between Bartering and Trading is
Bartering exchanges services; Trade exchanges money
There is no difference
Trade exchanges money; bartering exchanges money and services
Trade exchanges money and services, bartering is just discussions
What is the difference between an open and closed economy? what type of economy does Ireland have?
Which of these products could be produced in Ireland but Ireland generally doesn't produce them?
Potato's
Strawberry's
Gas
Banana's
The Arctic Monkeys are playing Malahide Castle Next Year, this is an example of
Invisible Export
Visible Imports
Invisible Imports
Visible Exports
St Sylvesters GAA are given a fee to provide GAA consultancy in the United Kingdom, this is an example of
Visbile Export
Invisible Export
Invisible Import
Visible Import
America buying 100 tubs of Kerrygold Butter produced in Ireland
Visible Export
Visible Import
Invisible Import
Visible Import
Why might a company decide to export their goods?
So they can produce less
To expand their markets
To lessen the choice of products
Dutch tourists go on holiday to County Clare
Visible Import
Visible Export
Invisible Export
Invisible Import
The Corona's play a concert in London
Visible Import
Invisible Export
Visible Export
Invisible Import
What might you need to consider if you are trading with a foreign country
What is the weather like?
Do they wear glasses
Any language difference
Do they take milk in their tea?
How do you find the Balance of Trade?
Total Imports take away Total Exports
Visible Exports take away Visible Imports
Total Exports less Total Imports
Visible Imports less Visible Exports
Total Exports take away Total Imports gives you a Balance of
(a)
If your Exports are lower than your imports you have a trade..
Surplus
Deficit
Positive
Negative
What suggestions might you make to improve your Balance of Payments?
Which of these is a Barrier to Trade?
a Quota
Expensive Products
Cost of Living
Shark Infested Waters
Wexford strawberries are an example of
Tariffs
New Product Launch
A favourable harvest
Import Substitution
The EU is an example of
International Activism
Group of Countries
A Trading Bloc
A Continent
Why might a Multi National Company decide to set up in Ireland?
Skilled Workforce
Wild Atlantic West
Climate Change
Irish Grass
This is an example of Infrastructure
Sun
Air
Roads
Food
