Trade Fundamentals Quiz

Froggy Jumps

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You are an international trader who must move across different countries.
At each level, you will face a real-world scenario related to international trade.
To advance, you must correctly identify whether you are facing a tariff, quota, embargo, protectionism, subsidy, surplus, deficit, or a trade agreement.

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ASTRID YOUNG

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Trade Fundamentals Quiz


Froggy Jumps Trade Fundamentals QuizVersión en línea You are an international trader who must move across different countries. At each level, you will face a real-world scenario related to international trade. To advance, you must correctly identify whether you are facing a tariff, quota, embargo, protectionism, subsidy, surplus, deficit, or a trade agreement. por ASTRID YOUNG 1 Your shipment of electronics arrives in the U.S. and must be inspected by government officials before entering the country. What concept is this? a Import license b Customs control c Border security 2 Last year your country exported $500M and imported $900M worth of goods. Is this a trade surplus or trade deficit? a Trade Deficit b Trade Surplus c Trade parity 3 Your imported shoes now cost 20% more because the government added a tax at the border. What type of trade barrier is applied? a Tariff b Embargo c Quota 4 Your country only allows 50,000 foreign cars per year to be imported. Which trade barrier is being used? a Quota b Tariff c Subsidy 5 Country A forbids all imports of beef from Country B due to health concerns. What is this action called? a Restriction b Embargo c Sanction 6 The government wants to protect local farmers, so it imposes trade barriers against foreign agricultural products. What policy is this? a Protectionism b Liberalization c Open market 7 The government gives money to local steel companies so they can sell products cheaper internationally. What is this called? a Tax cut b Tariff exemption c Subsidy 8 The U.S., Canada, and Mexico remove most tariffs between them. This describes which agreement? a NAFTA (now USMCA) b TTIP c ASEAN Free Trade Area 9 Two countries accuse each other of unfair trade practices. Which organization can resolve this dispute? a International Monetary Fund (IMF) b World Bank c World Trade Organization (WTO) 10 Country A places tariffs on tires from Country B. Country B retaliates with tariffs on chicken. This situation is called: a Market backlash b Trade agreement breach c Trade War 11 Before 1913, the U.S. government used import taxes mainly to increase national income. What type of tariff is this? a Revenue-producing tariff b Protective revenue tariff c Protective tariff 12 Two nations agree to exchange goods freely without tariffs or quotas. This is known as: a Free Trade b Balanced tariff c Balanced trade

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Trade Fundamentals Quiz

Froggy Jumps

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Trade Fundamentals QuizVersión en línea

por ASTRID YOUNG

Your shipment of electronics arrives in the U.S. and must be inspected by government officials before entering the country. What concept is this?

Last year your country exported $500M and imported $900M worth of goods. Is this a trade surplus or trade deficit?

Your imported shoes now cost 20% more because the government added a tax at the border. What type of trade barrier is applied?

Your country only allows 50,000 foreign cars per year to be imported. Which trade barrier is being used?

Country A forbids all imports of beef from Country B due to health concerns. What is this action called?

The government wants to protect local farmers, so it imposes trade barriers against foreign agricultural products. What policy is this?

The government gives money to local steel companies so they can sell products cheaper internationally. What is this called?

The U.S., Canada, and Mexico remove most tariffs between them. This describes which agreement?

Two countries accuse each other of unfair trade practices. Which organization can resolve this dispute?

Country A places tariffs on tires from Country B. Country B retaliates with tariffs on chicken. This situation is called:

Before 1913, the U.S. government used import taxes mainly to increase national income. What type of tariff is this?

Two nations agree to exchange goods freely without tariffs or quotas. This is known as: