Trade and Economic Concepts, Quizzes of World Politics

Download Trade and Economic Concepts and more Quizzes World Politics in PDF only on Docsity! TERM 1 Trademarks DEFINITION 1 An example of intellectual property TERM 2 Honduras DEFINITION 2 This country is not part of NAFTA TERM 3 Insurance DEFINITION 3 An example of a trade in service TERM 4 World Trade Organization DEFINITION 4 The general agreement on Tariffs and trade was replaced by the ____ TERM 5 Mercantilism DEFINITION 5 ____ emphasizes conflicting interests in economic exchanges TERM 6 Political authorities set prices DEFINITION 6 In a centrally planned economy TERM 7 In order to protect an infant industry DEFINITION 7 States product domestic industry TERM 8 Qatar DEFINITION 8 The most recent round of multinational trade negotiations began in? TERM 9 OPEC DEFINITION 9 The most prominent cartel in the international economy TERM 10 Oligopoly DEFINITION 10 there are just a few large suppliers of a product in a(n)? TERM 21 Industrialization DEFINITION 21 The use of energy to drive machinery and the acumulation of such machinery along with the products created with it. TERM 22 Concerns over environmental fishing practices DEFINITION 22 The US was last a WTO ruling to Indonesia, Malaysia, Thailand, and Pakistan, whose shrimp exports it had blocked over TERM 23 Care whether a state's wealth is increasing in absolute terms DEFINITION 23 Economic liberals TERM 24 The difference between the lowest price a seller would accept and the highest price a buyer would pay DEFINITION 24 The bargaining space is TERM 25 False DEFINITION 25 T/F Two thirds of all international trade takes place between the industrialized west and global south TERM 26 False DEFINITION 26 T/F the value of a states imports relative to its exports is the balance of payment TERM 27 True DEFINITION 27 T/F one of the main obstacles in the Doha round of multination trade negotiations was the resistance of the west to cutting agriculture subsidiaries TERM 28 True DEFINITION 28 T/F Environmental groups oppose free trade because they say it promotes environmentally harmful impacts TERM 29 True DEFINITION 29 T/F in a centrally planned economy, political authorities set prices and decide on quotas for production and consumption of each commodity according to a long term plan TERM 30 False DEFINITION 30 T/F A monopoly is a ceiling on how many goods of a certain kind can be imported TERM 31 True DEFINITION 31 T/F An industrial policy involves a state working actively with industries to promote its growth and tailor trade policy to meet its need TERM 32 False DEFINITION 32 T/F absolute advantage is when states specialize in producing the goods that they produce best and trade goods for goods that other states are better at producing TERM 33 True DEFINITION 33 T/F state owned industries are evidence of mixed economics TERM 34 True DEFINITION 34 T/F In liberal economics, bilateral relations between states are less important than they are in security affairs TERM 35 True DEFINITION 35 T/F When a state expands more than it imports, it is maintaining a positive balance balance of trade