WorksheetsEnglish Vocabulary for International Trade
Total questions: 10
Worksheet time: 5mins
What is the definition of international trade?
The exchange of goods and services between countries
The exchange of goods and services within a country
The exchange of goods and services between individuals
The exchange of goods and services within a company
Which of the following is an example of an import?
A country selling goods to another country
A country buying goods from another country
A country selling goods within its own borders
A country buying goods from its own citizens
What is a trade deficit?
When a country exports more than it imports
When a country imports more than it exports
When a country has an equal amount of imports and exports
When a country does not engage in international trade
What is a tariff?
A tax on imported goods
A tax on exported goods
A tax on domestic goods
A tax on all goods
What is a trade barrier?
A restriction on the quantity of goods that can be imported
A restriction on the quantity of goods that can be exported
A restriction on the quantity of goods that can be produced domestically
A restriction on the quantity of goods that can be consumed domestically
What is a free trade agreement?
An agreement between countries to eliminate trade barriers
An agreement between countries to increase trade barriers
An agreement between countries to limit imports
An agreement between countries to limit exports
What is a trade surplus?
When a country exports more than it imports
When a country imports more than it exports
When a country has an equal amount of imports and exports
When a country does not engage in international trade
What is a balance of trade?
The difference between a country's exports and imports
The total value of a country's exports
The total value of a country's imports
The total value of a country's trade
What is a trade agreement?
An agreement between countries to eliminate trade barriers
An agreement between countries to increase trade barriers
An agreement between countries to limit imports
An agreement between countries to limit exports
What is a trade partner?
A country that engages in international trade
A country that does not engage in international trade
A country that only exports goods
A country that only imports goods
