International Trade (Leaving Cert Business): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What does importing mean?
What does importing mean?
Buying goods from abroad
What does exporting mean?
What does exporting mean?
Selling goods to a foreign country
Why might a country without oil reserves import oil?
Why might a country without oil reserves import oil?
Due to lack of natural resources
Why would a cold climate country import tropical fruits?
Why would a cold climate country import tropical fruits?
Unsuitable climate for production
Why might a country import medical equipment it cannot produce locally?
Why might a country import medical equipment it cannot produce locally?
Due to lack of skills
How does importing improve consumer choice?
How does importing improve consumer choice?
It provides a wider variety of products
Why is exporting crucial for countries with small domestic markets?
Why is exporting crucial for countries with small domestic markets?
For survival & economies of scale
How does exporting affect business sales and profits?
How does exporting affect business sales and profits?
It significantly increases them
What benefit does diversification through exporting provide?
What benefit does diversification through exporting provide?
Stability & mitigation of risks
Which is NOT a reason why countries import?
Which is NOT a reason why countries import?
To achieve economies of scale