International Trade Quizzes & Trivia

International Trade is something which takes place around the world. Today, different countries trade with countries all around the world. With new freight developments, people are no longer limited to trade with their closest neighbors and can instead expand their reach across the globe.

Of course there are different laws which oversee international trade, particularly laws pertaining to import and export limitations, taxes, and tariffs. Each country is different and when one business decides to sell their product to multiple countries, they must meet with each country’s trade laws. Can you name some of the trade laws in your country? Take one of our many international trade quizzes and see how much you know about commerce, imports, and exports worldwide.

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International Trade

Keep a hard copy of your results in case the server dumps your scores!!! this will prevent you from retaking the quizzes because of a computer error.

Questions: 9 | Attempts: 2199 | Last updated: Jan 8, 2013

Sample Question
Countries usually impose restrictions on free foreign trade to...

Protect foreign producers

Protect foreign consumers

Protect domestic producers

Protect domestic consumers

International Trade Mock Test Quiz: Trivia!

Questions: 10 | Attempts: 543 | Last updated: Aug 21, 2020

Sample Question
Autarky implies that

A country’s consumption possibilities are the same as its production possibilities

Equilibrium has been reached with the maximum gains from specialization and trade

Equilibrium has been reached with the maximum amount of international trade

The nation has such a high standard of living that there are technically no poor people

Quiz Related To International Trade

Chapter 1

Questions: 5 | Attempts: 179 | Last updated: Oct 12, 2018

Sample Question
International trade is logically associated with which assumption?

Resources are less mobile internationally than domestically

Resources are more mobile internationally than are goods

Imports should exceed exports

Exports should exceed imports

None of the above

List Of Brics Summits Trivia Quiz

Questions: 5 | Attempts: 609 | Last updated: Dec 20, 2018

Sample Question
The 1st BRICS summit was held in which one of the following years?

2010

2009

2011

2008

It's Time For International Trade Quiz

Quiz to help mi madre along.

Questions: 12 | Attempts: 117 | Last updated: Jun 26, 2018

Sample Question
Transaction Risk occur when....

You must make a payment in a foreign currency in the future.

You must recieve a payment in a foreign currency in the future.

When you dont have enough money in your account

A and b

All the above

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International Trade Questions & Answers

Which of the following would not be true when a country allows for trade and becomes an exporter of the good?1. The price paid by the domestic consumer of the good increases2. The...

Option C. "The losses of domestic consumers exceed the gains of domestic producers". This option is definitely not true when a country allows for trade and becomes an exporter of the good. There are other two conditions which are also true.

What do you understand by restricting trade?

Trade restriction can sometimes be necessary to make the economy grow. Some people become too accustomed to the items that are from different countries that they forget to love their own products. They become too excited about the products from other

What will happen if a country allows trade and the domestic price of a good is higher than the world price?

Because I believe we need to see the demand in its country to decide whether such a country needs to import the goods.

What generalization can be made about the relationship between GDP and literacy?

Option B is correct. Literacy is usually higher in countries with higher GDP. Education and monetary worth of a country are very important factors in measuring a country’s growth. It is believed that there is a positive relationship between Li