65 Test questions and answers
International Trade Law
From:
The Law and Policy of the World Trade Organization
5th ed. 2021 / Peter van den Bossche
9781108747103
Cambridge University Press
I also included some questions that were on the real test (Maastricht
university) at the end.
, 1. Economic Globalization
1. What is economic globalization?
Gradual integration of national economies into one borderless global
economy, involving international trade and foreign direct investment
(FDI).
2. What are two key drivers of economic globalization?
Technological advancements and trade/FDI liberalization.
3. What are the positive impacts of economic globalization?
Reduction of poverty, better international cooperation, and
enhanced economic integration.
4. What are the criticisms of globalization?
Environmental degradation, cultural dispossession, and economic
inequality.
2. Free Trade vs. Restricted Trade
5. What is the theory of comparative advantage?
Countries can benefit from trade even if they are not the best at
producing any good, by specializing in what they produce most
efficiently.
6. Name one argument for restricted trade.
Infant industry protection, to allow new industries in developing
countries to grow.
7. What is the Heckscher-Ohlin Model?
It refines previous trade theories, emphasizing specialization based
on a country's factor endowments.
8. Why do developing countries often restrict trade?
To protect domestic industries and generate government revenue.
3. The WTO and International Trade Rules
9. When was the WTO established?
January 1995.
10. What was the WTO's predecessor?
The General Agreement on Tariffs and Trade (GATT 1947).
International Trade Law
From:
The Law and Policy of the World Trade Organization
5th ed. 2021 / Peter van den Bossche
9781108747103
Cambridge University Press
I also included some questions that were on the real test (Maastricht
university) at the end.
, 1. Economic Globalization
1. What is economic globalization?
Gradual integration of national economies into one borderless global
economy, involving international trade and foreign direct investment
(FDI).
2. What are two key drivers of economic globalization?
Technological advancements and trade/FDI liberalization.
3. What are the positive impacts of economic globalization?
Reduction of poverty, better international cooperation, and
enhanced economic integration.
4. What are the criticisms of globalization?
Environmental degradation, cultural dispossession, and economic
inequality.
2. Free Trade vs. Restricted Trade
5. What is the theory of comparative advantage?
Countries can benefit from trade even if they are not the best at
producing any good, by specializing in what they produce most
efficiently.
6. Name one argument for restricted trade.
Infant industry protection, to allow new industries in developing
countries to grow.
7. What is the Heckscher-Ohlin Model?
It refines previous trade theories, emphasizing specialization based
on a country's factor endowments.
8. Why do developing countries often restrict trade?
To protect domestic industries and generate government revenue.
3. The WTO and International Trade Rules
9. When was the WTO established?
January 1995.
10. What was the WTO's predecessor?
The General Agreement on Tariffs and Trade (GATT 1947).
