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BAIB1001 Week 2 Seminar 2 Quiz

The document is a quiz for BAIB1001 Week 2 Seminar 2, consisting of 10 questions related to international trade concepts such as globalization, trade barriers, and the World Trade Organization. Each question has multiple-choice answers, and an answer key is provided at the end. The quiz aims to assess students' understanding of key topics in international trade.

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de.ngodinh
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42 views4 pages

BAIB1001 Week 2 Seminar 2 Quiz

The document is a quiz for BAIB1001 Week 2 Seminar 2, consisting of 10 questions related to international trade concepts such as globalization, trade barriers, and the World Trade Organization. Each question has multiple-choice answers, and an answer key is provided at the end. The quiz aims to assess students' understanding of key topics in international trade.

Uploaded by

de.ngodinh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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25/10/2023, 16:00 BAIB1001 Week 2 Seminar 2 23/24

NAME :

CLASS :
BAIB1001 Week 2 Seminar 2 23/24
DATE :
10 Questions

1. What is globalisation in the context of international trade?

A government's policy to restrict The process of increasing


A foreign trade B interconnectedness and
interdependence among countries

A trade agreement between two A form of currency exchange


C D
neighbouring countries

2. Which of the following is an example of a trade barrier?

A A stable exchange rate B A reduction in import tariffs

C A free trade agreement D A quota on imported goods

3. What is the primary purpose of the World Trade Organization (WTO)?

To promote fair trade practices and To facilitate negotiations and resolve


A protect consumers B trade disputes among member
countries

To regulate international financial To provide humanitarian aid to


C D
markets developing nations

4. What is comparative advantage in international trade?

When a country restricts trade with all When a country has an absolute
A B
other nations advantage in producing all goods

When a country specialises in When a country can produce all


C producing the goods it can produce D goods more efficiently than any other
most efficiently country

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25/10/2023, 16:00 BAIB1001 Week 2 Seminar 2 23/24

5. Which of the following is not a regional trade agreement?

WTO (World Trade Organisation) ASEAN (Association of Southeast


A B
Asian Nations)

NAFTA (North American Free Trade EU (European Union)


C D
Agreement)

6. Which of the following best describes protectionism in international trade?

The practice of limiting imports to The process of devaluing a nation's


A B
protect domestic industries currency

A trade agreement among The promotion of free trade and open


C D
neighbouring countries markets

7. What does the term "tariff" refer to in the context of international trade?

A unit of currency used in trade A bilateral trade agreement between


A B
settlements two countries

An international trade organisation A tax imposed on imported or


C D
exported goods

8. What is the key feature of a free trade agreement (FTA) between two or more
countries?

The imposition of high tariffs on all The exclusive promotion of trade with
A B
imported goods non-participating nations

The elimination or reduction of trade The absence of any trade regulations


C D
barriers, such as tariffs and quotas or agreements

9. What is the main objective of an export subsidy in international trade?


[Challenging]

To increase the quality of exported To discourage domestic businesses


A B
goods from exporting

To impose tariffs on imported goods To reduce the cost of domestic


C D
production

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10. Which of the following is a benefit of globalisation in international trade?

A decrease in the availability of Enhanced economic growth through


A B
consumer goods access to larger markets

Reduced cultural exchange and Increased risk of financial crises


C D
understanding

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25/10/2023, 16:00 BAIB1001 Week 2 Seminar 2 23/24

Answer Key

1. b 2. d 3. b 4. c

5. a 6. a 7. d 8. c

9. d 10. b

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