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    International Business and Trade

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    Dan Ryan
    This midterm exam for an international business and trade course covers key concepts and theories of international trade. It contains 20 multiple choice questions testing knowledge of classical and modern trade theories, reasons for tariffs and other trade barriers, as well as motives for both free trade and protectionism. Students are evaluated on their understanding of comparative advantage, absolute advantage, new trade theories, and policies affecting global commerce.

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    © All Rights Reserved
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    International Business and Trade

    Uploaded by

    Dan Ryan
    239 views2 pages
    This midterm exam for an international business and trade course covers key concepts and theories of international trade. It contains 20 multiple choice questions testing knowledge of classical and modern trade theories, reasons for tariffs and other trade barriers, as well as motives for both free trade and protectionism. Students are evaluated on their understanding of comparative advantage, absolute advantage, new trade theories, and policies affecting global commerce.

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    © © All Rights Reserved

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    This midterm exam for an international business and trade course covers key concepts and theories of international trade. It contains 20 multiple choice questions testing knowledge of classical and modern trade theories, reasons for tariffs and other trade barriers, as well as motives for both free trade and protectionism. Students are evaluated on their understanding of comparative advantage, absolute advantage, new trade theories, and policies affecting global commerce.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    239 views2 pages

    International Business and Trade

    Uploaded by

    Dan Ryan
    This midterm exam for an international business and trade course covers key concepts and theories of international trade. It contains 20 multiple choice questions testing knowledge of classical and modern trade theories, reasons for tariffs and other trade barriers, as well as motives for both free trade and protectionism. Students are evaluated on their understanding of comparative advantage, absolute advantage, new trade theories, and policies affecting global commerce.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Saint Vincent College of Cabuyao

    Brgy. Mamatid, City of Cabuyao, Laguna


    International Business and Trade

    MIDTERM EXAM
    Name: Score:
    Course & Section: Date:

    1. It is the concept of exchanging goods and services between two people or entities. Trade
    2. It is the concept of this exchange between people or entities in two different countries.
    3. Enumerate the classical or country – based theories in international trade.
    4. Enumerate modern firm- based theories in international trade.
    5. An international trade theory states that a country’s wealth is determined by the amount
    of its gold and silver holdings.
    6. A new trade theory which focused on the ability of a country to produce a good more
    efficiently than another nation.
    7. It occurs when a country cannot produce a product more efficiently than the other
    country; however, it can produce that product better and more efficiently than it does
    other goods.
    8. This theory is often most useful in understanding trade in goods where brand names and
    product reputations are important factors in the buyers’ decision-making and purchasing
    processes.
    9. The theory assumed that production of the new product will occur completely in the
    home country of its innovation.
    10. It is a specific tax levied on an imported good at the border.
    11. Enumerate the top reasons why tariffs are used.
    12. Enumerate the common types of tariffs.
    13. A fixed fee levied on one unit of an imported good is referred to as a specific tariff. This
    tariff can vary according to the type of good imported.
    14. This type of tariff is levied on a good based on a percentage of that good's value.
    15. It is granted to a business by the government and allows the business to import a certain
    type of good into the country.
    16. It is a restriction placed on the amount of a particular good that can be imported.
    17. This type of trade barrier is "voluntary" in that it is created by the exporting country
    rather than the importing one.
    18. benefits consumers through increased choice and reduced prices, but because
    the global economy brings with it uncertainty, many governments impose tariffs and
    other trade barriers to protect the industry.
    19. Enumerate the motives of trade.
    20. Enumerate the motives for protection.

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