International Trade
What is the main benefit of international trade?
A) Higher taxes
B) More product variety
C) Less competition
D) No tariffs
B) More product variety
What is a tariff?
A) License to sell
B) Tax on exports
C) Tax on imports
D) Government salary
Tax on imports
Which protects logos and brand names?
A) Copyright
B) Trademark
C) Patent
D) Trade secret
B) Trademark
What is the WTO?
A) World Tourism Organization
B) World Trade Observatory
C) World Trade Organization
D) West Trade Order
C) World Trade Organization
You’re in a race and you pass the person in second place. What place are you in now?
Second place. You didn’t pass the first one!
Which term describes when a country sells more than it buys?
A) Trade deficit
B) Trade balance
C) Trade surplus
D) Tariff gain
C) Trade surplus
Why do countries use import controls?
A) To reduce competition
B) To help local producers
C) To ensure safety
D) All of the above
D) All of the above
Which one protects inventions?
A) Patent
B) Copyright
C) Trademark
D) Certificate
A) Patent
Which agreement sets international rules for copyrights?
A) Berne Convention
B) Geneva Protocol
C) Paris Accord
D) UNDRIP
A) Berne Convention
A lawyer has a brother, but the brother has no brother. How is that possible?
The lawyer is his sister.
A Mongolian cashmere company exports to Germany. German laws require eco-friendly packaging, but Mongolian laws don’t. What trade issue does this show?
Non-tariff barriers (technical standards causing trade friction)
What is the legal document that must be submitted to declare imported or exported goods at the border?
Customs declaration
Which law in Mongolia governs copyright protection?
(You must say this in mongolian)
Copyright Law of Mongolia (Оюуны өмчийн тухай хууль)
What is the full name of the international agreement known as GATT?
General Agreement on Tariffs and Trade
A doctor gives you 3 pills and says to take one every 30 minutes. How long until all the pills are taken?
1 hour. First pill now, second in 30 min, third in 60 min.
What is the term for a trade policy where a country allows goods and services to move across borders with little to no government control?
Free trade
According to the Customs Tariff Law of Mongolia, what is the maximum rate of import tariff allowed?
20%
How many years is a registered trademark protected in Mongolia, and can it be renewed?
10 years, and renewable every 10 years
Which international treaty helps protect inventions worldwide by allowing one patent application for multiple countries?
Patent Cooperation Treaty (PCT)
You see a boat filled with people, yet there isn’t a single person on board. How is that possible?
All the people on board are married.
According to WTO rules, what principle ensures countries treat each other equally in trade agreements?
Most-Favored-Nation (MFN) principle
What is the Mongolian term for “customs declaration form” used in import/export processes?
Гаалийн мэдүүлэг
What are the three main criteria for an invention to be patentable?
Novelty, inventive step, and industrial applicability
Mongolia is a member of which global trade agreement organization that governs international trade rules?
World Trade Organization (WTO)
You’re in a dark room. You only have one match. There’s an oil lamp, a candle, and a fireplace. What do you light first?
The match.