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WorksheetsGlobal Trade
Total questions: 12
Worksheet time: 10mins
Which of the following would be an example of globalization?
shirts are made in Vietnam
a scientist reads an article written in English
an American student buys pencils made in the U.S.
A shirt made in Malaysia is sold in Canada and the U.S.
How do multinational companies keep their costs low?
the build factories far away from raw materials
they manufacture their products in only one country
they build factories in countries where labor is inexpensive
they assemble their final product in many different countries
How do governments protect their national industries?
by encouraging free trade practices
by lowering quotas on imported goods
by placing embargos on foreign countries
by creating trade barriers to decrease competition
Which of the following has helped increase economic globalization? (two answers)
cargo ships and airplanes
warfare
telecommunications and the internet
communism
trade embargos
Match the following trade barriers with their description
Embargo
a number or monetary value for the amount of goods that can be imported or exported
Quota
a fee or tax that a country charges on imports or exports
Tariff
a limit on trade often for political reasons
Match the following organizations with their actions
World Trade Organization (WTO)
works with nations to decrease embargos, taxes, and quotas
International Monetary Fund (IMF)
offers emergency loans to countries with unstable economies
the World Bank
provides loans for large projects, like building schools, in developing countries
A country decides that they will only allow a set amount of a product to be imported into their country. Which type of trade barrier is this?
(a)
A country adds a tax to clothing which makes imported t-shirts cost more than ones produced in the country. Which type of trade barrier is this?
(a)
A country does not approve of human rights abuses happening in another country so they stop importing and exporting goods to that country. Which type of trade barrier is this?
(a)
Japanese auto firms agree to limits set in Washington D.C., on the number of Japanese cars that may be sold in the U.S.
Embargo
Quota
Tarriff
France imposes a limit on Avocado imports from Mexico.
tariff
quota
embargo
The European Union added a new tax on all coffee imported from Colombia.
tariff
quota
embargo
