International Trade Test Questions with Answers

International Trade Test Questions
with Answers
receiving goods from another country - Ans -importing definition



sending goods to another country - Ans -exporting definition



the process of connecting the world over time - Ans -globalization definition



encourages; encourages; increases - Ans -International trade _______ economic
growth.

International trade __________ the specialization of goods.

International trade

-------- the types of goods and services available around the world.



import; fewer - Ans -The main materials needed for the computer parts come from
overseas. One way to keep costs down for my company is to ________ raw materials and
build parts here.

If the computers that use my products are replaced by newer or cheaper computers, my
company will have _________ of customers.



to get goods they cannot produce locally - Ans -Which option best explains why
countries trade with each other?



to produce more of certain goods and services in a more efficient way - Ans -Why do
countries specialize? Check all that apply.
1
Page