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Chapter 3 Questions

The document contains questions about international trade organizations and agreements. It includes true/false and multiple choice questions testing knowledge about trade blocs and agreements like NAFTA, the EU, ASEAN, and others. The questions cover topics like founding dates, member countries, objectives, and other key details about major international trade organizations.

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Josue Llivipuma Gallardo
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59 views3 pages

Chapter 3 Questions

The document contains questions about international trade organizations and agreements. It includes true/false and multiple choice questions testing knowledge about trade blocs and agreements like NAFTA, the EU, ASEAN, and others. The questions cover topics like founding dates, member countries, objectives, and other key details about major international trade organizations.

Uploaded by

Josue Llivipuma Gallardo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Chapter 3 Questions: International Marketing

True or False?
1. A Free Trade area is when two or more countries agree to abolish
tariffs and other barriers to trade among themselves. (T)
2. NAFTA established a free trade area with Canada, USA, and
Mexico in 1994 (T)
3. The European Union first began with the Treaty of Rome in 2009
(F)
4. There are customs at the national boarders of countries that are
a part of the European Union (F)
5. When the Gulf Cooperation Council was first established, the
organization held 45% of the worlds iron. (F)
6. MENA includes both middle east and north Africa. (T)
7. The Latin American trade organizations are NAFTA, SICA, Andean
Community and ASEAN. (F)
8. Argentina, Brazil, Paraguay, Uruguay and Venezuela are all
members of MERCOSUR. (T)
9. Preferential Trade Agreements give partners special treatment
and may discriminate against others. (T)
10.
The World Trade Organization is represented by 400
countries. (F)

Multiple Choice:
1. In a Free Trading Area, the Rules of Origin requirement, restrict
transshipment of good from the country with the:
a. Lowest tariff to another
b. Highest tariff to another
c. Equal tariff
d. None of the above
2. Which of the following nations is NOT part of the North American
Free Trade Agreement?
a. Canada
b. United States
c. Mexico
d. Ecuador
3. Which of the following is NOT part of a common market?
a. The addition of internal barriers to trade
b. The elimination of internal barriers to trade

c. establishes common external barriers to trade (eg:


customs union)
d. Allows for the free movement of factors of productions,
such as labor, capital, and information.
e.
4. Who are NOT trading partners of The Association of Southeast
Asian Nations?
a. United States
b. Europe
c. China
d. Australia
5. Which one of the following countries is a member of the
Association of Southeast Asian Nations (ASEAN)?
a. United States
b. European Union
c. China
d. Thailand
6. The objective of the European Union is:
a. To harmonize national laws and regulations
b. To bail out Greece
c. To ensure that the laws of the different countries in Europe
do not align
d. To common trading markets with North Korea.
7. How many countries are apart of the European Union (EU)?
a. 200
b. 3
c. 64
d. 27
nit
8. Which were the original 6 countries in the Gulf Cooperation
Council?
a. Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab
Emirates
b. Great Britain, Kuwait, Oman, Qatar, Saudi Arabia, United
Arab Emirates
c. Bahrain, Kuwait, Namibia, South Africa, Saudi Arabia,
United Arab Emirates
d. Great Britain, Kuwait, Oman, Qatar, Saudi Arabia, United
States
9. Which of the following is one of Africas regional agreements?
a. Economic Community of West African States
b. East African Cooperation

c. South African Development Community


d. All of the above
10.
a.
b.
c.
d.
e.

The Andean Community includes the following countries:


Bolivia
Colombia
Ecuador
Peru
All of the Above

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