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10.3 Quiz Review Flashcards | StudBud
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10.3 Quiz Review
10.3 Quiz Review
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1
How are conducting diplomacy and conducting trade similar?
They are both techniques of cybersecurity.
They are both ways to better equip the military.
They are both tools of foreign policy.
They are both strategies to combat terrorism.
2
What is Free Trade?
concept that people in developing countries need to be fairly compensated
allowing as much trade with other nations as possible
a set limit on goods that can be imported to or exported from a country
a tax that is placed on imported goods when they enter a country
3
Which is
NOT
a type of economic barrier?
Quota
Currency
Embargo
Tariff
4
What is a Tariff?
concept that people in developing countries need to be fairly compensated
a tax that is placed on imported goods when they enter a country
the ability to focus on a set of skills
a set limit on goods that can be imported to or exported from a country
5
What is Fair Trade?
the ability to focus on a set of skills
a complete ban on sending goods to and receiving goods from a country
the ability of consumers to decide what is produced
concept that people in developing countries need to be fairly compensated
6
Which is NOT a benefit of trade?
Larger markets
Preservation of natural resources
Job growth
Increased production efficency
7
What is an Embargo?
the ability of consumers to decide what is produced
a tax that is placed on imported goods when they enter a country
freedom from trade restrictions
a complete ban on sending goods to and receiving goods from a country
8
Which is a drawback of treaties such as the North American Free Trade Agreement (NAFTA)?
higher wages for low-skill workers
reduced innovation among entrepreneurs
job loss in domestic industries
increased safety regulations
9
What is Specialization?
People who do one job using the resources and specific skills they have
the ability of consumers to decide what is produced
a complete ban on sending goods to and receiving goods from a country
concept that people in developing countries need to be fairly compensated
10
What are regulations?
rules set by countries that limit what is imported and exported
set limit on goods that can be imported to or exported from a country
disagreement between countries resulting in increased trade restrictions
Anything Mr. B
11
Which of the following is a disadvantage of global trade?
If demand falls, more specialized jobs will be created.
Local producers might suffer because a foreign product will be cheaper
New industries can grow because of competition from foreign producers
You can purchase rare items from other countries.
12
What is protectionism?
protecting a country’s workers and industry through govt trade regulations
the ability to focus on a set of skills
concept that people in developing countries need to be fairly compensated
a set limit on goods that can be imported to or exported from a country
13
What is a Quota?
concept that people in developing countries need to be fairly compensated
a tax that is placed on imported goods when they enter a country
the ability to focus on a set of skills
a set limit on goods that can be imported to or exported from a country
