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True/False
Multiple Choice
Matching
Trade Barriers
Did You Know?
100
_____ are goods and services that one country sells to another country.
What is exports.
100
Distinguish the difference between unfavorable and favorable exchange rate.
What is favorable exchange rates cause the country's currency to go up.
100
What trade alliance is the United States in and with who?
What is NAFTA, Canada & Mexico
100
________ are goods and services that one country ships in to another country.
What is imports.
200
If no one wants to buy products from a country, the value of the currency decreases.
What is True
200
What is specializing?
What is sell the products you produce best, so you can buy other products from other countries.
200
Practice of putting limits on foreign trade to protect business at home.
What is protectionism.
200
What does NAFTA stand for?
What is North American Free Trade Agreement
200
DOUBLE JEOPARDY
Tell the two degrees of balance of trade, and their definitions. Which degree is the United States.
300
Favorable and unfavorable trade exchange is the same for every country.
What is false.
300
What would lowering the value of currency allow?
What is more businesses to move in.
300
Banks where different currencies are exchanged?
What is foreign exchange markets.
300
When a government stops imports or exports of a product.
What is embargo.
300
Give an example of Specialization.
What is coffee in Columbia. They have the climate, soil, and environment to produce coffee.
400
Quotas and tariffs are types of trade barriers.
What is true
400
What causes a trade deficit? ( NOT WHAT IS IT)
What is competition from other countries.
400
Name three types of currency.
What is pesos, dollars, euros, yen, etc.
400
What are examples for tariff, quota, and embargo?
What is A tax placed on tea that we import, limited that tea, and stopping the tea entirely since it is coming from Brazil.
400
What is a multination corporation? Give 3 examples!
What is a company that does business in many countries and has facilities and offices in many countries around the world.
500
The United States is so rich in resources, it doesn't need to trade with other countries.
What is false
500
Name the three trade barriers
What is tariff, quota, and embargo.
500
Conflict over global competition.
What is trade dispute.
500
Belief there should be no limits on trade
What is Free Trade
500
NAME THE THREE trade alliances.
What is NAFTA, EU, ASEAN.