Economic Effects of International Trade
This quiz will test your knowledge on the economic effects of international trade.
1. What is the effect of trade on prices?
Prices rise in the importing country and falls in the exporting country
Prices stay the same.
Prices fall in both countries.
Prices rise in both countries.
2. What is the effect of trade on consumers?
Consumers gain in both countries.
Consumers lose in both countries.
Consumers loss in the importing country and gain in the exporting country.
Consumers gain more than they lose.
3. What is the effect of trade on producers?
Producers gain more than they lose.
Producers gain equally.
Producers lose equally.
Producers gain in the importing country and loss in the exporting country.
4. How does government benefit from international trade?
Gains revenue through tariff
Gains money from borrowing.
Gains money from taxes.
Gains money from investment
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