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WorksheetsInternational trade and resources
Total questions: 15
Worksheet time: 15mins
Which term refer to the exchange of goods and services between different countries?
Good And service trade
International trade
domestic trade
All the answers above
What is the name for the difference between a country's exports and imports of goods and services?
Foreign direct investment
Current account balance
Trade balance
Fiscal deficit
What does the abbreviation WTO stand for in international economics?
World Trade Organization
World Tariff Organization
Worldwide Trading Order
World Taxation Office
Which term refers to the total value of a country's exports and imports of goods and services?
Trade surplus
Gross Domestic Product (GDP)
Current account deficit
Balance of payments
Which factor of production refers to natural resources and raw materials used in production?
Labor
Capital
Entrepreneurship
Land
What is the main benefit of international trade?
Increased domestic production
Higher employment rates
Improved standard of living
Reduced competition
What does FDI stand for in international economics?
Foreign Direct Investment
Financial Data Integration
Fiscal Development Index
Foreign Debt Investment
What is the main purpose of imposing tariffs on imported goods?
To generate revenue for the government
To encourage domestic consumption
To protect domestic industries
To promote international cooperation
Which economic theory suggests that a country should specialize in producing goods?
Absolute advantage
Comparative advantage
Balance of trade
Protectionism
What is the primary reason behind countries engaging in international trade?
To reduce domestic production costs
To achieve self-sufficiency
To increase government control over the economy
To benefit from specialization and comparative advantage
What does the term "capital" represent in the context of international economics?
Financial assets or resources used in the production of goods and services
Natural resources and raw materials
Human effort and skills
Government policies and regulations
Which term describes the free movement of goods, services, capital, and labor across national borders?
Protectionism
Outsourcing
Globalization
Localization
What is a trade deficit?
When a country's exports exceed its imports
When a country's imports exceed its exports
When a country's exports and imports are equal
When a country's trade is completely restricted
Which element can not move across bounder in international economic?
Labor
Capital
Technology
Raw material and natural resources
What type of international investment can describe as a "financial investment"?
Foreign direct investment (FDI)
Foreign portfolio investment (FPI)
Real estate investment
Goods investment
