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Barriers To Trade Quiz 6 (25 MCQs)

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1. A trade bloc made up of European countries.
2. France limits the amount of swiss chocolate that it is able to import.
3. Which pair is incorrectly matched?
4. A block or restriction on trade with another country is called
5. In 2006, the United Nations Security Council unanimously adopted a resolution to restrict the export to and the import from Iran on certain items and technology potentially related to nuclear weapons.
6. Which is an example of a trade barrier?
7. How do trade barriers affect a country's economy?
8. Which of the following would be a natural resource?
9. Preventing a foreign product or service from freely entering a nation's territory. This is a definition of _____
10. Company XYZ produces cheese in Scotland and exports the cheese, which costs $ 100 per pound, to the U.S. A 20% tax would require company XYZ to pay the United States government $ 20 to export the cheese. This is an example of which trade barrier?
11. Free enterprise and no government regulation on the economy
12. If a country produces one product at a fast pace and can do what they do best and trade for the rest, this is called what?
13. What is the currency of MOST EU countries?
14. When supply goes up and demand is low, prices go _____
15. Formed to accelerate economic growth, social progress, and cultural development and to promote peace and security in Southeast Asia.
16. What type of economy do most democratic societies have today?
17. GDP (Gross Domestic Product) is the total market value of goods and _____ produced by a country's economy in a year. It is used to determine the health of a country's _____
18. What does a trade barrier do?
19. _____ creates a smarter & more productive workforce and leads to greater economic growth.
20. If a country limits the amount of an imported good, they are using a
21. The European Union places a block on all oil imports from Syria.
22. The condition of not being able to get all the goods & services one wants. It exists because human demand for goods & services exceed the quantity of goods & services that can be produced using all the available resources.
23. The UK limits the amount of imported clocks.
24. To engage in the exchange, purchase, or sale of goods
25. This form of government is elected by the people and all are eligible to vote
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