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!

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HIGH SCORES

Rank Name Score
1st H-R 28
2nd ltx 27
3rd MCF 26
4th LKG 25
5th ncc 25
6th CAE 23
7th RTL 22
8th LTx 21
9th Gjk 19
10th Gjk 19

QUIZZES // Trade policies

Q1. What is a non-tariff barrier?

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.

Q2. What is protectionism?

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.

Q3. Which of these is an example of invisible trade?

Food processing industries

Transport industries

Research and intellectual property services

Imports of raw materials

Q4. What is comparative advantage?

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.

Q5. Which of these is NOT a reason for international trade?

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.

Q6. The EU ban on imports of chlorinated chicken is an example of

Anti-dumping measures

Phytosanitary regulations

Free trade

Quotas to control trade

Q7. Which of these organisations sets the rules for the system of world trade?

IMF

World Bank

WTO

UN Security Council

Q8. What are import substitution policies?

Policies which restrict exports.

Policies which support free trade.

Policies which encourage immigration.

Policies which restrict imports.

Q9. EU tariffs on imports aim to

Protect EU producers.

Limit the amount of a product which can be imported.

Increase the competitiveness of EU exports.

Reduce migration

Q10. Structural adjustment programmes (SAP) were imposed on low-income countries in order to

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.

Q11. Which of these is not a predominantly political reason for government intervention in an economy?

Protect jobs from unfair competition.

Protect the environment.

Protect consumer health.

Encourage in-migration.

Q12. What is a trade war?

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.

Q13. What is Fair Trade?

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.

Q14. What is a free trade area?

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.

Finished!

You scored this time. The more correct answers you give, and the fewer incorrect answers you guess, the better your score.

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