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Barriers To Trade Quiz 3 (25 MCQs)

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1. Used to produce or provide a good or service (i.e. land, labor capital goods)
2. What are the three types of economies?
3. People rely on multiple groups of people to get the resources that they want and need.
4. An economy in which most of the economic decisions that are made are based on customs and on the habit of how auch decisions were made in the past.
5. An economic decision that slows or prevents trade
6. In 2011, the United States Department of Agriculture increased its annual sugar-import limit to 1.6 million tons for the year.
7. "The U.S. government places a tax on all imported cars." Who Benefits?
8. In June of 2013, the European Union described to lift restrictions of the trade of weapons to Syrian rebels.
9. This term refers to the limited Supply of something. Ex:Fresh Water in a desert.
10. The United States has recently found out that Cuba is not honoring the promise made in the delivery of coffee beans. The United States has decided to block all trading with Cuba. What trade barrier is this an example of?
11. In 2011, the United States Department of Agriculture increased its annual sugar-import limit to 1.6 million tons for the year. This is an example of which trade barrier?
12. In 2010, Mexico imposed a limit of 250, 000 tons of sugar that could be imported from other countries.
13. Company XYZ produces cheese in Scotland and exports the cheese, which costs $ 100 per pound, to the United States. A 20% tax would require Company XYZ to pay the United States government $ 20 to export the cheese. This is a(n) _____
14. How is the EU different from NAFTA and ASEAN
15. In 2010, Mexico imposed a limit of 250, 000 tons of sugar that could be imported into Mexico.
16. In 2012, the United States Commerce Department announced that it would impose a tax ranging from 2.9% to 4.7% on Chinese made solar panels. This is an example of which trade barrier?
17. What consequence of increased industrialization, currently faced by Mexico, do some believe is caused by Mexico's involvement in the North American Free Trade Agreement?
18. Russia imposes a 5% tax on imported cars.
19. In which type of economic system does the government control what a factory produces and what price it will charge for those products? AMarket
20. All of the following are rules/laws that have been passed by the EU EXCEPT
21. A sixth grade class decides to open a popcorn stand. The stand and the popcorn popper are examples of which factor of production?
22. The currency used by most European Union member nations is called the _____
23. Having to choose one item over another because of limited resources is a an example of
24. Germany places a block on all imports from Sri Lanka
25. Free Trade Agreement among the nations of EuropeAdopted common currency:Euro
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