Test your knowledge of trade policies and how they influence economic growth and extend overseas markets with this 14-question A level quiz.
If you haven't already done it, work through the unit on ‘Do trade policies matter?’ Or look at it again to help fill in any gaps in your knowledge!
A control applied only to imported goods.
Any measure applied to imports and exports which is not a financial tax.
A tax applied to agricultural produce.
d)An agreement on trading goods within a Free Trade Area.
Support for countries with low GNI
Financial controls on exports from a country.
Government subsidies applied to all parts of a country’s economy.
A range of trade policies which restrict imports in particular sectors of a country’s economy.
Food processing industries
Research and intellectual property services
Imports of raw materials
Where a good or service can be produced more efficiently and inexpensively in one location than another due to the particular characteristics of that location.
A government subsidy to reduce costs of imports.
Where one product is of higher quality than another.
Where goods are sold more cheaply overseas than at home.
To increase the income of governments through taxes.
To increase the size of markets for a product.
To increase access to affordable goods and services.
To reduce the influence of nation states.
Quotas to control trade
UN Security Council
Policies which restrict exports.
Policies which support free trade.
Policies which encourage immigration.
Policies which restrict imports.
Protect EU producers.
Limit the amount of a product which can be imported.
Increase the competitiveness of EU exports.
Help them pay back debt to large private lenders and corporations.
Establish a national minimum wage.
Help them pay back their national debts to the IMF and international banks.
Restrict foreign imports.
Protect jobs from unfair competition.
Protect the environment.
Protect consumer health.
Exported goods are protected by armed forces.
Competition between different firms making the same goods.
Disagreement between government and producers over import controls.
Countries try to damage each other's trade, usually by the imposition of tariffs or quota restrictions.
Producers engage in fair competition with each other.
Producers are paid a fair price for their produce.
There is fair competition between small producers and multi-national corporations.
A guarantee of product quality.
A region where agricultural products are very cheap.
A region where all governments impose similar trading tariffs.
A region where there are no imports into the region.
A group of countries within which trade is conducted freely.
You scored this time. The more correct answers you give, and the fewer incorrect answers you guess, the better your score.