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WorksheetsProtectionism
Total questions: 15
Worksheet time: 15mins
What is protectionism?
Promoting free trade
Encouraging international cooperation
Restricting imports through trade barriers
Promoting global economic growth
Which of the following is a trade barrier?
Tariffs
Subsidy
Free trade
Cooperative advantage
What is a tariff?
A payment made by foreign government
Financial incentives for domestic producers
Tax on imports
A trade agreement
Protectionism is often driven by the desire to:
Lower domestic prices for consumers
Increase competition in the global market
Protect domestic industries from foreign competition
Promote efficient allocation of resources
Which term refers to a limit on the quantity of a specific import?
Trade surplus
Quota
Tariff
Subsidy
What is a potential downside of protectionism?
Boosting domestic industries
Encourage international cooperation
Reduced consumer choices and higher prices
Promoting global economic growth
Which of the following is a purpose of implementing tariffs?
Encouraging imports
Stimulating domestic production
Reducing domestic employment
Promoting global competition
How do tariffs affect consumers?
Consumer has to pay higher prices
Consumer has to pay lower prices
Tariffs only affect luxury goods
Tariffs have no effect on consumers
Which country would benefit from imposing a tariff on imported goods?
The exporting country
The importing country
Both the importing and the exporting countries
Neither the importing nor the exporting country
What do import quotas achieve that tariffs might not?
Encourage export subsidies
Promote free trade
Generate government revenue
Restrict the imports
How does an import quota affect the domestic market?
It decreases prices of imported goods
It increases domestic production
It promotes foreign competition
It eliminates trade barriers
What is an unintended consequence of import quotas on consumer welfare?
Reduced product variety and choice
Decrease government intervention
Lower domestic production
Enhanced competition
Country A wants to reduce the import of cars from Country B, which has been flooding its market with cheap alternatives. Country A decides to impose a tax on the imported goods to make them less attractive to its consumers. What is this tax called?
Subsidy
Import
Tariff
Quota
Country X is concerned about the negative impact of imported textiles on its domestic garment industry. To address this, the government of Country X decides to limit the quantity of textile imports allowed into the country each year. What trade policy is Country X using?
Exchange rates
Import Quota
Trade liberalization
Export promotion
A country's government decides to implement policies to shield its domestic industries from foreign competition. This involves imposing various barriers to trade. What economic concept does this scenario represent?
Free trade
Import promotion
Export promotion
Protectionism
