Worksheetsgive me quiz on filling system for grade 8
Total questions: 27
Worksheet time: 14mins
Being dependent on other countries to provide the things that the country doesn't produce itself is called
specialization
import
interdependence
export
Making one kind of good or providing one kind of service is called __________________
silliness
specialization
interdependence
China sells erasers to Brazil. This is an ___________
import
export
donation
The United States buys coffee beans from Brazil. This is an
______________.
export
import
The United States sells airplane parts to the country of Kenya. This is an example of an ______________
import
export
donation
China sells erasers to Brazil. This is an ___________
import
export
donation
Bringing in goods or services from another is country
exports
imports
donates
When a country sends or sells its goods to another country it ___________ them.
imports
exports
donates
The United States sells airplane parts to the country of Kenya. This is an example of an ______________
import
export
donation
_______________ is when you don't have enought of the thing you want
trade
barter
scarcity
specialization
Bringing in goods or services from another is country
exports
imports
donates
When a country sends or sells its goods to another country it ___________ them.
imports
exports
donates
Trading one good or service for another is called
trade
services
barter
scarcity
_______________ is when you don't have enought of the thing you want
trade
barter
scarcity
specialization
Exchanging one good or service for something else is called
produce
trade
import
export
Trading one good or service for another is called
trade
services
barter
scarcity
Exchanging one good or service for something else is called
produce
trade
import
export
An import is
producing certain goods very well and for a reduced cost.
items sold to other countries.
dependence on others to get products you do not produce and needing to purchase items from them.
items purchased from other countries. Goods come into the USA.
A quota is
an official ban on trade.
a limit on or a specific number of imports allowed.
a law that promotes safety.
a tax on imports.
An embargo is
a tax on imports.
a cash grant or loan from the government to support the business.
an official ban on trade.
a specific number of imports allowed.
A subsidy is
a cash grant or loan from the government to support the business.
a law that promotes safety.
a tax on imports.
a specific number of imports allowed.
A tariff is
a specific number of imports allowed.
a cash grant or loan from the government to support the business.
an official ban on trade.
a tax on imports.
Why is Trade important for Developing Countries?
A source of foreign currency to help a nation’s balance of payments
An important way of financing imports of essential imports of capital equipment / technologies and energy supplies
A decrease of demand as withdrawal from the circular flow of income and spending + creating negative export multiplier effects
Rising prices for consumers helps to increase real incomes e.g. by opening up monopoly suppliers of energy to new competition
What is free trade?
Trade reflects the impact of
specialisation and exchange rates
This is international trade free from
artificial barriers such as import tariffs,
quotas and other trade barriers
This is international trade with artificial barriers such as import tariffs, quotas and other trade barriers
A country might increase tariffs for all of the following reasons EXCEPT
Shelter young industries and companies
National security
Lower prices
Protect American jobs
What is the word for a tax on imports?
Tariff
Quota
Voluntary export restraint
Embargo
What is a likely result of increasing tariffs?
Increased competition
Higher prices
Greater innovation
More choice for consumers
