#1
Which of the following is an example of economic integration?
A country imposing tariffs on imported goods
A group of countries forming a customs union
A country implementing strict immigration policies
A company expanding its operations globally
#2
What is the main goal of economic integration?
To increase trade barriers
To promote international cooperation
To encourage protectionism
To isolate economies from global markets
#3
What is the term used to describe the removal of all barriers to trade among member countries?
Protectionism
Economic isolation
Trade liberalization
Market segmentation
#4
Which of the following trade agreements aims to create a single market among its member countries?
North American Free Trade Agreement (NAFTA)
European Union (EU)
ASEAN Free Trade Area (AFTA)
Common Market of the South (MERCOSUR)
#5
Which of the following is an example of a regional trade bloc?
World Trade Organization (WTO)
United Nations (UN)
North American Free Trade Agreement (NAFTA)
International Monetary Fund (IMF)
#6
What does the term 'tariff' refer to in international trade?
A tax on imports or exports
A quota on the quantity of goods traded
A subsidy provided to domestic producers
A restriction on the type of goods that can be traded
#7
Which of the following is not a stage of economic integration?
Customs union
Free trade area
Embargo
Economic union
#8
What is the difference between a free trade area and a customs union?
In a free trade area, countries maintain individual tariffs; in a customs union, they adopt a common external tariff.
There is no difference between the two.
In a customs union, countries have completely open borders; in a free trade area, they do not.
A free trade area focuses on services, while a customs union focuses on goods.
#9
What is the term used to describe the situation where a country exports more than it imports?
Trade deficit
Trade surplus
Trade embargo
Trade barrier
#10
Which of the following organizations promotes fair competition and regulates international trade rules?
International Monetary Fund (IMF)
World Trade Organization (WTO)
World Bank
United Nations Conference on Trade and Development (UNCTAD)
#11
Which of the following trade agreements involves the United States, Canada, and Mexico?
Trans-Pacific Partnership (TPP)
Common Market of the South (MERCOSUR)
North American Free Trade Agreement (NAFTA)
ASEAN Free Trade Area (AFTA)
#12
What is the primary purpose of trade blocs?
To increase barriers to international trade
To encourage economic integration among member countries
To promote isolationism and self-sufficiency
To regulate trade on a global scale
#13
Which of the following is an example of an economic union?
European Union (EU)
North American Free Trade Agreement (NAFTA)
World Trade Organization (WTO)
Organization of the Petroleum Exporting Countries (OPEC)
#14
What is the concept of 'comparative advantage' in international trade?
Countries should produce only what they can produce most efficiently.
Countries should focus on producing goods they can produce at the lowest cost.
Countries should produce everything domestically to protect their industries.
Countries should avoid international trade to maintain self-sufficiency.
#15
Which of the following is not a characteristic of globalization?
Increased interconnectedness and interdependence
Rise of multinational corporations
Erosion of national borders
Promotion of protectionist policies
#16
Which of the following organizations aims to facilitate financial stability and international monetary cooperation?
International Monetary Fund (IMF)
World Trade Organization (WTO)
World Bank
United Nations Conference on Trade and Development (UNCTAD)
#17
What is the main purpose of the World Trade Organization (WTO)?
To regulate international financial markets
To promote global economic integration
To provide development assistance to low-income countries
To facilitate diplomatic negotiations among member states