This quiz works best with JavaScript enabled. Home > International > Trade > Trade Exchange And Interdependence – Quiz 1 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Trade Exchange And Interdependence Quiz 1 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Horses transformed the way these Native Americans lived. Now, they could ..... A) Win the battle against the Europeans. B) Get their work done much faster. C) Travel farther in search of food and hunt their prey more easily. D) None of above. Show Answer Correct Answer: C) Travel farther in search of food and hunt their prey more easily. 2. Restrictions on the amount of a good that can be imported into a country. A) Quota. B) Tariff. C) Embargo. D) None of above. Show Answer Correct Answer: A) Quota. 3. A trade agreement between 27 countries of with the same currency and open trade between those nations. A) NAFTA. B) EU. C) WTO. D) ABC. Show Answer Correct Answer: B) EU. 4. The commodities imported to India include petroleum and petroleum product are in percentage of A) 28.6. B) 38.9. C) 28.7. D) 28.5. Show Answer Correct Answer: A) 28.6. 5. A tariff is a form of taxation on foreign products, while a quota is a/an ..... on imports from foreign countries A) Boost. B) Increase. C) Limit. D) Rise. Show Answer Correct Answer: C) Limit. 6. Constantinople is known today as? A) London. B) Baghdad. C) Istanbul. D) Alexandria. Show Answer Correct Answer: C) Istanbul. 7. Something that is assigned value and can be used to purchase goods and services in a market is known as A) Minerals. B) Currency. C) Goods. D) Services. Show Answer Correct Answer: B) Currency. 8. Any activity which slows or outright blocks the free exchange of goods and services between nations. A) Voluntary Trade. B) Specialization. C) Currency Exchange. D) Trade Barrier. Show Answer Correct Answer: D) Trade Barrier. 9. What food did people think were bad to eat? A) Pineapples. B) Squash. C) Tomatoes. D) Potatoes. Show Answer Correct Answer: C) Tomatoes. 10. An economy in which a centrally planned economic system is changing into a free market A) Developed economy. B) Transitioning economy. C) Developing economy. D) None of above. Show Answer Correct Answer: B) Transitioning economy. 11. Trade surplus occurs when A) Export>import. B) Export C) Export=import. D) Export#import. Show Answer Correct Answer: A) Export>import. 12. Bombay Stock Exchange is the ..... largest stock exchange in the world. A) 10th. B) 11th. C) 12th. D) None of above. Show Answer Correct Answer: B) 11th. 13. Why might a country want to restrict trade from other countries? A) To shrink its economy. B) To increase spending on imports. C) To encourage free trade. D) To make domestic products more attractive. Show Answer Correct Answer: D) To make domestic products more attractive. 14. Where does India gets its fuel needs? A) Marine Drive. B) Stock Exchange. C) Bombay High. D) None of above. Show Answer Correct Answer: C) Bombay High. 15. SWIFT is a A) Shipping system to process export payments between member banks worldwide. B) Telecommunication system to process interbank financial payments between member banks worldwide. C) Importing system to process payments between member banks worldwide. D) None of above. Show Answer Correct Answer: B) Telecommunication system to process interbank financial payments between member banks worldwide. 16. What was a disease that was brought to the Americas from Europe? A) Diabetes. B) Lupus. C) ADHD. D) Diphtheria. Show Answer Correct Answer: D) Diphtheria. 17. A state of unevenness A) Treaty. B) Exploitation. C) Imbalance. D) Compete. Show Answer Correct Answer: C) Imbalance. 18. Safety, environmental, health, or other technical requirements set by a government. Imports must meet these requirements before they are allowed to come into the country. A) Standards. B) Subsidy. C) Quota. D) Tariffs. Show Answer Correct Answer: A) Standards. 19. What is an economic system, where African slaves were exchanged for raw materials, money, and finished goods? Those countries/continents involved included Ivory Coast (Africa), Europe, and the Americans. A) Mercantalism. B) Triangular Trade. C) Market economics. D) Feudalism. Show Answer Correct Answer: B) Triangular Trade. 20. To generate internal funds, an economy must A) Spend more than it makes. B) Print more money. C) Generate more than it produces. D) Produce more than it consumes. Show Answer Correct Answer: D) Produce more than it consumes. Next →Related QuizzesInternational QuizzesTrade Exchange And Interdependence Quiz 2Trade Exchange And Interdependence Quiz 3Trade Exchange And Interdependence Quiz 4Trade Exchange And Interdependence Quiz 5Trade Exchange And Interdependence Quiz 6Trade Exchange And Interdependence Quiz 7Trade Exchange And Interdependence Quiz 8Trade Exchange And Interdependence Quiz 9Trade Exchange And Interdependence Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books