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Chapter Quiz

Generate an image showing a world map with trade routes and symbols representing exports and imports in a colorful, educational style.

Global Trade Knowledge Quiz

Test your understanding of global trade dynamics and concepts with our engaging quiz! Dive into questions about exports, protectionism, and international market strategies.

You'll learn about:

Top exporters of goods and services
Comparative vs. competitive advantage
The effects of tariffs and anti-dumping duties

10 Questions2 MinutesCreated by TradingExpert42

Top exporter of goods

USA

China

Top exporter of services

USA

China

Which of the following results in the largest trade deficit?

Imports

Exports

Protectionism is the idea that the government is protecting jobs

True

False

Enjoying and not sharing an advantage is often made by:

Unethical firms

First-movers

Deadweight loss happens because of:

Loss on default products

Unsold items

Tariffs

Logistic costs

Anti-dumping duties help:

Exporting companies

Importing companies

MNEs

Domestic companies

Imagine China can produce 20 cars and 40 aircrafts. Meanwhile, the US can produce 30 Cars and 80 Aircrafts. In this case, China has a(n):

Comparative advantage in producing aircrafts

Competitive advantage

Comparative advantage in producing cars

Absolute advantage

An operation with shared ownership by several domestic or foreign companies is often called:

Joint Venture

Foreign Direct Portfolio

Foreign Direct Investment

Multinational Enterprise

The OLI paradigm stands for:

Operations; Location; Internationalization

Organization; Logistics; Integration

Ownership; Location; Internalization

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