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WorksheetsBTEC Business Trading Blocs
Total questions: 23
Worksheet time: 12mins
Which of the following countries make up NAFTA?
United states, Canada, Alaska
United states, Canada, Mexico
United states, Canada, Iceland
United States, Alaska, Mexico
Which of these country is NOT a member of ASEAN?
Cambodia
Brunei darussalam
Laos
China
what is the main reason behind introducing Euro as common currency
Promotes economic sovereignty
Protect business from currency fluctuations
allow free movement of people
None of the above
Which of the following countries is not a member of the EU?
Croatia
Spain
Malta
Turkey
A common or single market will have all of the following features except:
No internal trade barriers
Common external tariff
Factor and asset mobility
A common currency
What is the purpose of NAFTA?
To increase trade between the countries of North America
To help Canada become a more independent nation
To eliminate the environmental issues between the nations involved
Define trading bloc.
Groups of countries that agree to reduce or eliminate trade barriers between themselves
Union that adopts a common currency
Measure of the the price of a country’s exports relative to its imports.
refers to the value of exports minus imports.
Limit on the amount of a product imported into a country during a specific period of time.
trade agreement
tariff
trading bloc
quota
Governmental tax on imported goods
floating currency
tariff
trade sanction
embargo
Which country is the world’s leading goods exporter?
Japan
China
Germany
United States
In which year did the North American Free Trade Agreement come into effect?
1989
1992
1994
2002
Which of the following is a benefit of trading blocs?
Easier trade among member countries
Higher tariffs on goods
Increased competition within the bloc
More complex trade regulations
What type of organization is the WTO?
A global international organization
A local business group
A national government agency
A regional trade association
What area does Mercosur cover?
A European trade agreement
A South American common market
An Asian economic union
A North American trade pact
What type of union is the EU described as?
A military union
A cultural union
An economic and political union
A technological union
What does economic cooperation in the EU aim to achieve?
Economic independence
Economic interdependence
Economic isolation
Economic competition
Which six countries were the original members of the European Economic Community?
Belgium, Germany, France, Italy, Luxembourg, Netherlands
Spain, Portugal, Greece, Ireland, Denmark, Sweden
Austria, Finland, Poland, Hungary, Czech Republic, Slovakia
Norway, Iceland, Liechtenstein, Switzerland, Monaco, Andorra
What is a key political benefit of the EU?
Close political alignment
Increased military spending
Higher tariffs
Restricted travel
Which of the following countries is NOT mentioned as part of Mercosur?
Uruguay
Brazil
Chile
Paraguay
What does USMCA stand for?
United States-Mexico-Canada Agreement
United States-Mexico-China Agreement
United States-Mexico-Cuba Agreement
United States-Mexico-Colombia Agreement
