TOPIC 1
Quiz by MUHAMAD RIAS K V ZAINUDDIN
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- Q1
What is globalization?
The isolation of national economies
The centralization of national economies
The separation of national economies from global economy
The integration of national economies into a global economy
20s - Q2
What is the main purpose of the World Trade Organization (WTO)?
Promote free trade
Limit foreign investment
Regulate domestic markets
�Increase protectionism
20s - Q3
What is the term for the exchange of goods and services between countries?
International trade
Domestic trade
Local trade
Regional trade
20s - Q4
What is the term for the total value of all goods and services produced by a country in a given period?
GDP
PPI
CPI
GNP
20s - Q5
Which term refers to the movement of jobs and industries to countries with lower labor costs?
Offshoring
Outsourcing
Insourcing
Homeshoring
20s - Q6
What is the term for a tax on imported goods?
Tariff
Income tax
GST
Excise tax
20s - Q7
What is the name of the economic theory that advocates for government intervention to protect domestic industries?
Protectionism
Mercantilism
Keynesianism
Classical liberalism
20s - Q8
What is the term for the difference between a country's exports and imports?
Trade surplus
Current account
Trade deficit
Balance of trade
20s - Q9
What does FDI stand for?
Federal Department of Investment
FeDex International
Foreign Direct Investment
Foreign Domestic Investment
20s - Q10
What does the acronym ASEAN stand for?
Asian and East Asia Economic Network
Association of Southeast Asian Nations
American Society for Environmental Awareness Network
Association of South Asian and Asian Nations
20s