TRADE ECONOMICS EXAMINATION QUESTIONS AND CORRECT ANSWER WITH EXPLANATION GRADED A+ STUDY GUIDE SOUTHERN NEW HAMPSHIRE UNIVERSITY

TRADE ECONOMICS EXAMINATION QUESTIONS AND
CORRECT ANSWER WITH EXPLANATION GRADED A+
STUDY GUIDE SOUTHERN NEW HAMPSHIRE UNIVERSITY

1. Trade economics studies:

A. Cooking systems
B. Exchange of goods and services between countries
C. HR management
D. Sports management
Answer: B
It focuses on domestic and international trade.



2. International trade is:

A. Local buying
B. Exchange of goods across borders
C. HR trade
D. Cooking trade
Answer: B
Trade between countries.



3. Domestic trade occurs:

A. Between countries
B. Within a country
C. HR trade
D. Cooking trade
Answer: B
Internal trade.



4. Export means:

,A. Buying goods
B. Selling goods abroad
C. HR export
D. Cooking export
Answer: B
Outward trade.



5. Import means:

A. Selling abroad
B. Buying from other countries
C. HR import
D. Cooking import
Answer: B
Inward trade.



6. Trade balance is:

A. HR balance
B. Difference between exports and imports
C. Cooking balance
D. Marketing balance
Answer: B
Trade performance measure.



7. Trade surplus occurs when:

A. Imports > exports
B. Exports > imports
C. HR surplus
D. Cooking surplus
Answer: B
Positive trade balance.



8. Trade deficit occurs when:

, A. Exports > imports
B. Imports > exports
C. HR deficit
D. Cooking deficit
Answer: B
Negative trade balance.



9. Balance of payments includes:

A. HR payments
B. All international transactions
C. Cooking payments
D. Marketing payments
Answer: B
Comprehensive account.



10. Current account includes:

A. Loans only
B. Trade in goods and services
C. HR account
D. Cooking account
Answer: B
Trade flows.



11. Capital account includes:

A. HR capital
B. Investment flows
C. Cooking capital
D. Marketing capital
Answer: B
Financial flows.



12. Comparative advantage means: