WorksheetsGlobal Trade and Inequalities in Trade
Total questions: 13
Worksheet time: 7mins
Which country has recently become the world's largest trading nation surpassing the USA?
India
Russia
Brazil
China
What is the purpose of fair trade?
To exploit workers in developing countries
To promote child labor
To ensure minimum wages and safe working conditions
To increase poverty in developing countries
What is the main advantage of trading blocs for member countries?
Higher prices for domestic products
Increased taxes on imports
Limited market access
Removal of border controls
What is the purpose of the United States, Mexico and Canada Agreement (USMCA)?
To restrict trade with Asian countries
To impose tariffs on European countries
To substitute the North American Free Trade Agreement (NAFTA)
To promote fair trade in South America
What is the purpose of Mercosur?
To impose embargoes on European countries
To facilitate movement of goods between member countries
To restrict trade with South American countries
To promote free trade between Brazil and China
What is protectionism?
Removing border controls for imports
Imposing embargoes on specific goods
Restricting the amount of imports into a country
Promoting free trade between countries
What is the purpose of the European Union (EU)?
To limit market access for member countries
To reduce potential for war within Europe
To increase trade barriers within Europe
To promote child labor in Europe
What is the Asia-Pacific Economic Cooperation (APEC) forum focused on?
Promoting fair trade in Africa
Reducing sustainable development in Asia-Pacific region
Promoting free trade and sustainable development in Asia-Pacific region
Increasing trade barriers among member countries
What are the characteristics of emerging markets like Brazil, Russia, India, and China?
Lack of financial systems and reliance on one sector of industry
Dependence on just one influential country for trade
High levels of exportation and rapid industrialization
Low levels of exportation and slow industrialization
What are the main reasons why some developing countries are unable to compete in international trade?
Abundance of natural resources and good financial systems
Low levels of exportation and rapid industrialization
Strong industrial base and political stability
High rates of illiteracy and lack of skilled people
What is the purpose of the Asia-Pacific Economic Cooperation (APEC)?
To promote fair trade in South America
To reduce sustainable development in Asia-Pacific region
To increase trade barriers among member countries
To promote free trade and sustainable development in Asia-Pacific region
What are the main types of protective measures used by governments?
Taxes on exports, legal limits on exports, subsidies to foreign producers
Taxes on imports, legal limits on imports, subsidies to home producers
Taxes on exports, legal limits on imports, subsidies to foreign producers
Taxes on imports, legal limits on exports, subsidies to domestic producers
What is the main characteristic of developing countries experiencing economic growth like Colombia, Indonesia, Vietnam, Egypt, Turkey, and South Africa?
High levels of exportation and rapid industrialization
Young populations, fairly good financial systems, and not relying on just one sector of industry
Reliance on just one sector of industry
Old populations and lack of financial systems
