Trade In Canada Question Preview (ID: 55896)


Trade And Trade Barriers In Canada. TEACHERS: click here for quick copy question ID numbers.

This term which refers to the products or services originating in one’s own country; it is the antonym of foreign.
a) tariff
b) capital goods
c) homegrown
d) domestic

This is a refusal to purchase a good/service from a specific company or country.
a) tariff
b) boycott
c) quota
d) physical capital

This is a block on all trade with another nation and may be employed for safety reasons or to punish another country for their policies.
a) tariff
b) quota
c) market economy
d) embargo

This is a limit on imported goods done so that cheaper foreign imports do not flood domestic markets and put those producers out of business.
a) quota
b) tariff
c) embargo
d) capital

This is a tax on imported goods.
a) quota
b) embargo
c) property tax
d) tariff

This is the approximate value of one nation’s currency in terms of another nation’s.
a) money rate
b) exchange rate
c) value
d) quota

Canada uses the __________________ as its currency.
a) Canadian dollar
b) Canadian peso
c) ruble
d) drachma

In order for Canada to trade with other nations, a system of ______________ must exist.
a) bartering
b) government intervention
c) tariffs
d) currency exchange

Canada specializes primarily in what two industries?
a) pineapple and citrus farming
b) banana and avocado farming
c) oil extraction and refining
d) tourist and maritime industries

This is when a country focuses on a narrow range of products/services that can be produced most efficiently and cost-effectively.
a) trade barriers
b) economic specialization
c) economic generalization
d) physical barriers

This is when both partners freely agree to and benefit from the exchange of goods/services.
a) voluntary trade
b) coercion
c) forced through military threats
d) forced through economic laws

This any activity which slows or blocks the free exchange of goods and services between nations.
a) command economy
b) trade barrier
c) specialization
d) exporting

What is currency?
a) a nation's exports
b) capital goods
c) a nation's money
d) quotas

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