PU COM 2026 International Trade Free Quiz 1

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PU COM 2026 International Trade Free Quiz 1

PU COM Quiz

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Answered: 0 / 10

Remaining: 10

Navigator 10 Q

General

General 10 MCQs

1. What are imports?

A. Goods purchased from other countries B. Goods sold to other countries C. Goods produced locally D. Goods used for investment

2. What are exports?

A. Goods purchased from other countries B. Goods produced locally C. Goods sold to other countries D. Goods used for consumption

3. What is balance of trade?

A. Difference between income and expenditure B. Difference between assets and liabilities C. Difference between revenue and spending D. Difference between exports and imports

4. What is balance of payments?

A. Trade in goods only B. All economic transactions with rest of world C. Trade in services only D. Foreign investment only

5. What is the exchange rate?

A. Price of one currency in terms of another B. Price of gold in currency C. Interest rate on loans D. Inflation rate

6. What are trade barriers?

A. Only tariffs B. Only quotas C. Tariffs, quotas, and non-tariff barriers D. Only subsidies

7. Which organization promotes free trade among member countries?

A. United Nations B. IMF C. World Bank D. WTO

8. When does a trade surplus occur?

A. Imports exceed exports B. Exports exceed imports C. Exports equal imports D. No trade

9. When does a trade deficit occur?

A. Imports exceed exports B. Exports exceed imports C. Exports equal imports D. No trade

10. What is comparative advantage?

A. Produce more of a good B. Produce a good at lower cost C. Produce at lower opportunity cost D. Produce all goods efficiently

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