WorksheetsCommerce and trade
Total questions: 11
Worksheet time: 4mins
What is the main difference between home trade and international trade?
Home trade involves only the sale of services, while international trade involves only the sale of goods.
Home trade involves trade between different countries, while international trade involves trade within a single country.
Home trade involves trade within a single country, while international trade involves trade between different countries.
Home trade involves only the sale of goods, while international trade involves only the sale of services.
What are the services to trade that make trade possible?
Legal services, accounting, consulting, and real estate
Education, entertainment, hospitality, and research
Manufacturing, agriculture, construction, and healthcare
Storage, transport, banking, insurance, technological support, communication, and marketing
What is the role of wholesalers in the chain of distribution?
Store goods and transport them to consumers directly
Buy goods in small quantities from retailers and sell them in bulk to producers
Buy goods in bulk from producers and sell them in smaller quantities to retailers
Provide technological support and communication services to retailers
What type of retailers are most common today?
Discount stores and thrift shops
Online retailers and e-commerce platforms
Supermarkets, department stores, and hypermarkets
Independent retailers specializing in one product or service
What was the period known for the sharp increase in international trade due to new technologies and lowered trade barriers?
2000 - present
1980 - now
1945 - 1980
1850 - 1914
Which organisation was founded in 1995 to strengthen the rules of the global trading system?
World Bank
World Trade Organization (WTO)
International Monetary Fund (IMF)
General Agreement on Tariffs and Trade (GATT)
What does the term 'balance of trade' refer to?
Difference between visible and invisible trade
Difference between total exports and imports over a certain period of time
Difference between developed and developing countries in trade practices
Difference between credit and debit in international transactions
What is the main difference between visible trade and invisible trade?
Visible trade refers to physical products exchange, while invisible trade refers to services exchange
Visible trade refers to services exchange, while invisible trade refers to physical products exchange
Visible trade refers to trade within a single country, while invisible trade refers to trade between different countries
Visible trade refers to online transactions, while invisible trade refers to in-person transactions
What is the impact of a trade surplus on a country's economy?
Allows the economy to grow
Makes the country poorer
Leads to economic recession
Has no impact on the economy
What does the balance of payments (BOP) record?
Only the invisible trade transactions
Only the visible trade transactions
All the economic international transactions of the country
Only the trade deficit and surplus
"Balance of trade" refers to...
