International trade (Edexcel GCSE Business): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What is international trade?
What is international trade?
Buying & selling goods across borders
What is protectionism?
What is protectionism?
Govt restricting trade to protect economy
What are tariffs?
What are tariffs?
Taxes placed on imported goods
What happens when a quota limit is reached?
What happens when a quota limit is reached?
No more can enter until next period
What are subsidies in international trade?
What are subsidies in international trade?
Financial support to domestic producers
What are non-tariff barriers?
What are non-tariff barriers?
Strict quality or safety standards
Why might govts use trade barriers to protect domestic employment?
Why might govts use trade barriers to protect domestic employment?
To safeguard jobs in local industries
What are infant industries?
What are infant industries?
New or developing industries
What is dumping in international trade?
What is dumping in international trade?
Selling products at extremely low prices
What is a trade bloc?
What is a trade bloc?
Countries working together to encourage trade