11th Grade Trade Policy Quizzes, Questions & Answers

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Explore the dynamics of international trade through this quiz, focusing on assumptions, political influences, competitiveness, and trade effects. Understand market structures and the concept of closed economies. Essential for...

Questions: 5 | Attempts: 1043 | Last updated: Aug 5, 2025

Sample Question 1
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

Sample Question 2
Arguments for free trade are sometimes disregarded by the political process because

Maximizing consumer welfare may not be a chief priority for politicians

Economists tend to favor highly protected domestic markets.

The gains of trade are of paramount concern to typical consumers

Economists have a universally accepted decisive power over the political decision mechanism

Sample Question 3
____________ is the ability of a firm to design, produce, and market goods and services that are better and/or cheaper than those of other firms

Competitiveness

Protectionism

Comparative advantage

Interventionism

11th Grade Trade Policy Quizzes, Questions & Answers

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