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Understanding International Trade Concepts: A Quiz on True/False, Definitions, and Fill-in-the-Blanks

Test your knowledge on key concepts of international trade with this engaging quiz! Explore true or false questions covering topics such as intellectual capital, NAFTA, globalization, and trade commodities. Additionally, fill in the blanks to reinforce crucial terminology, and define important terms like tariff, ISO, and negotiation style. With questions spanning historical context to modern business practices, this quiz is perfect for students and professionals eager to enhance their understanding of global trade dynamics.

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Understanding International Trade Concepts: A Quiz on True/False, Definitions, and Fill-in-the-Blanks

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  1. BBB 4M1Jeopardy

  2. Jeopardy

  3. Credits Exit That’s all folks.

  4. True & False $100 Intellectual capital is the sum of knowledge, information, intellectual property, talent and experience within a country or organization. TRUE or FALSE

  5. True & False $100 True!

  6. True & False $200 NAFTA was created on January 1, 1998 between Canada, U.S.A., and China. TRUE or FALSE

  7. True & False $200 False!

  8. True & False $300 Globalization refers to the growth and spread of international economies and businesses around the world. TRUE or FALSE

  9. True & False $300 True!

  10. True & False $400 During the Middle Ages, merchant and craftspeople within towns created organized associations, called self-sufficients. TRUE or FALSE

  11. True & False $400 False! Guilds!

  12. True & False $500 During the exploration of the Americas, spice was the most important trade commodity. The most important spice was sugar. TRUE or FALSE

  13. True & False $500 False! Pepper!

  14. Fill in the Blanks $100 Trade between two countries is referred to as __________trade

  15. Fill in the Blanks $100 Bilateral

  16. Fill in the Blanks $200 An inventory control system that schedules products to arrive as they are needed for manufacturing or for supply for customers…

  17. Fill in the Blanks $200 JIT

  18. Fill in the Blanks $300 A measure of ease with which companies can run their business. __________

  19. Fill in the Blanks $300 Business climate

  20. Fill in the Blanks $400 The large-scale public systems, services and facilities of a country or region that are necessary for economic activity. __________

  21. Fill in the Blanks $400 Infrastruture

  22. Fill in the Blanks $500 Retailers that specialize in providing a wide variety of products in one category.

  23. Fill in the Blanks $500 Big box

  24. Definitions $100 Define tariff

  25. Definitions $100 Tariff: A tax imposed by local governments on goods or services coming into a country

  26. Definitions $200 Define ISO

  27. Definitions $200 The mission of the ISO is to promote the development of voluntary standards and related activities in the world

  28. Definitions $300 Define Negotiation style

  29. Definitions $300 Rules of correct or appropriate behaviour to follow when meeting with officials or business people in anther nation is referred to as negotiation style

  30. Definitions $400 Define Thorndyke’s theory

  31. Definitions $400 ….States that people’s behaviour is controlled by a desire to either achieve pleasure or avoid pain, ie, buy security systems, insurance to avoid pain

  32. Definitions $500 Define freight forwarder

  33. Definitions $500 …looks after documentation and transport arrangements (ie, negotiating rates with airlines, other logistics, etc.)

  34. Short Answers $100 New processes include manufacturing, distribution, Inventory control, JIT, kanban, and Accounting. Select one process and explain.

  35. Short Answers $100 GO TO PAGE 112-113 of text….

  36. Short Answers $200 List and explain two common pitfalls that companies may make when they attempt to trade internationally...

  37. Short Answers $200 Go to Page 216

  38. Short Answers $300 What is the international marketing mix? Explain with an example...

  39. Short Answers $300 Go to page 354.

  40. Short Answers $400 Explain logistics…..

  41. Short Answers $400 Go to page 370

  42. Short Answers $500 What are some factors affecting Canada’s competitiveness?

  43. Short Answers $500 Go to page 83..

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