WorksheetsInternational Trade and Business
Total questions: 15
Worksheet time: 10mins
What is the difference between imports and exports?
Define balance of trade.
What is the meaning of exchange rate?
What are trade barriers?
What is a multinational company (MNC)?
Why do governments establish international trade policies and agreements?
To restrict domestic industries
To protect domestic industries and promote exports
To discourage exports
To promote unfair competition
What is Import Trade?
The purchase or buying of goods or services from a foreign country for consumption in the importing country.
The sale of goods to a foreign country.
The export of goods from one country to another.
The re-export of goods from a third country.
What is Export Trade?
The purchase or buying of goods or services from a foreign country for consumption in the importing country.
The sale of goods to a foreign country.
The export of goods from one country to another.
The re-export of goods from a third country.
Who typically has control over foreign trade in a country?
Government
Producers
Middlemen
Buyers
Developed countries are industrialised countries.
True
False
Merchantilism is an example of historical theory?
Classical
Modern
Libiralism
Free Trade Theory
One of the popular item used for barter was (a) .
The first recognizable metal coins appeared in ______.
China
Mesopotamia
Greece
Rome
The cost incurred in producing an additional unit of a product is called -
Opportunity cost
Marginal cost
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