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Barriers To Trade Quiz 10 (20 MCQs)

Quiz Instructions

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1. Businesses make economic decisions, but the government regulates the businesses to make sure they're safe and fair.
2. A complete ban on trade between 2 countries
3. What do trade barriers do?(Main purpose)
4. A limit on imported goods is .....
5. Exchanging goods, services, or for other goods, services, or resources; or for money
6. Japanese auto firms, in Washington D.C., agreed to set limits s on the # of Japanese cars that may be sold in the U.S.
7. What is the most basic economic problem?
8. A standard is
9. Cuba is close to having this type of system.
10. In 2005, the United States limited the imports of Chinese textiles to 7.5% a year. This is an example of which trade barrier?
11. Brazil restricted all imports of aluminum from Canada. This is an example of what kind of trade barrier?
12. The European Union was created to
13. A limit to the number of imports that may enter a country
14. In 2006, the United Nations passed a Resolution that prohibits states from directly or indirectly supplying North Korea with conventional weapons (battle tanks, artillery, aircraft, missiles, etc.) This is an example of which trade barrier?
15. In 2005, the United States limited the imports of Chinese textiles to 7.5% a year
16. When a country or individual produces a single product that they are good at producing.
17. What would be the MOST important factor in deciding what job you would have if you lived in a traditional economy
18. The ability of an individual or group to carry out a particular economic activity more efficiently than another activity
19. A trade barrier that limits imported goods is called what?
20. Which of the following is NOT a purpose of the EU?
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