2.3 Government policy, agreements, and international trade

Question 1

What are trade agreements?

Answer 1

Sometimes called trade pacts are contractual agreements between countries concerning their trade relationships.

Question 2

What does bilateral mean?

Answer 2

trade agreements between two countries

Question 3

What does multilateral mean>

Answer 3

trade agreements between more than two countries

Question 4

The North American Free Trade Agreement (NAFTA) was betweem?

Answer 4

Canada
Mexico
United States of America

Question 5

When did NAFTA have an efefct?

Answer 5

January 1 1994

Question 6

How many countries in the European Union (EU)

Answer 6

28 members and have a trade agreement to eliminate any trade barriers they also have the currency as euro

Question 7

What is the main benefit of th EU?

Answer 7

Member counties have access to each other’s consumers (400 million)

Question 8

What are trade organizations?

Answer 8

Are organizations that encourage and support free trade without the force of law

Question 9

What does WTO stand for?

Answer 9

World Trade Organization

Question 10

When was WTO created?

Answer 10

1995 that succeeds the General Agreement on Tariffs and Trade established at the end of World War II.

Question 11

How many members in the WTO?

Answer 11

164

Question 12

How many members in the International Monetary Fund?

Answer 12

189 member body created in 1945

Question 13

What is the Organization for Economic Cooperation and Development do?

Answer 13

It has 38 countries Its created in 1948 and it helps to promote policies that will improve the economic and social well being of people around the world.

Question 14

Asia Pacific Economic Cooperation

Answer 14

21 members
Supports sustainable economic growth and prosperity in the Asia Pacific region

Question 15

What made APEC useful

Answer 15

Shipments of goods can easily be transported in the pacific ocean

Question 16

What are some of the benefits of trade agreements for international trade?

Answer 16

Possible benefits include:

reduced or eliminated tariffs
elimination of other trade barriers
lower-cost imports
expanded markets and customer bases

Question 17

What are some of the possible negative effects of free-trade agreements?

Answer 17

increased competition for domestic companies
elimination of jobs because of outsourcing`

Question 18

There is a benefit to everyone when producers adhere to standards, and when consumers become more educated about them. An example is the international standard for environmental management (ISO 14001), increasingly used by businesses to demonstrate environmental responsibility.

Answer 18

Supports best practices

Question 19

There is a benefit to consumers knowing that products work the same way in every country. As time passes, we will continue to see more developments and improvements in product universality across the world.

Answer 19

Usability

Question 20

There is a benefit to consumers knowing that the same safety standards are being applied to air travel, building design, traffic lights, and product manufacturing standards, for example, from one country to another.

Answer 20

Consumer confidence

Question 21

What does ISO stand for?

Answer 21

International Organization for Standarization

Question 22

How many members in ISO

Answer 22

164

Question 23

When was ISO established?

Answer 23

In 1947 in Switzerland and its main purpose is to develop voluntary world standards

Question 24

What does ISO do for businesses?

Answer 24

They provide manufacturing process certifications

Question 25

Defining a “Standard”

Answer 25

Is a document that provides requirements specification, guidelines or characteristics that can be used consistently to ensure that materials, products, processes and services are fit for their purpose
It help ensure businesses’ products are safe and can be reached to a larger broad

Question 26

What are the 4 basic principles of ISO standards?

Answer 26

1. Respond to need of the market: ISO responds to requests from stakeholders
2. Based on global export opinion: Standards are developed from experts all over the world
3. Multi-stakeholder process: Standards are developed through consultation with all stakeholders
4. Consensus: standards are based on consensus from stakeholders This is a democratic approach.

Question 27

Who is the Canadian safety organization in ISO?>

Answer 27

Standards Council of Canada that is a crown corporation created by an act of federal parliament. Its an independent government agency that promotes safety and quality standards domestically.

Question 28

How does ISO support International trade?

Answer 28

by creating consistent and universal standards

Question 29

_______________ have become experts in influencing the domestic and international trade policies of governments and trade organizations.

Answer 29

corporations

Question 30

What is Lobbying?

Answer 30

Lobbying is the act of communicating with politicians or government officials for the purpose of influencing the way laws are written

Question 31

Lobbying is based on four main principles

Answer 31

1. Free and open access to government is an important matter of public interest
2. Lobbying public office holders is a legitimate activity
3. It is desirable that public office holders and general public be able to know who is engaged in lobbying activities
4. The system of registration of paid lobbyists should not impede free and open access to the government

Question 32

What is a consultant lobbyst?

Answer 32

are paid to lobby on behalf of their clients. They are required to register within 10 days of entering into a lobbying contract.

Question 33

What are In-house lobbyists?

Answer 33

These are salaried employees of corporations or non-profit organizations. They lobby on behalf of their employer. If more than 20% of the employees duties consist of lobbying, they must also register.

Question 34

All lobbying activity must be registered with the

Answer 34

Commissioner

Question 35

Shaw Communications, BlackBerry, and Bell Canada are registered with the Commissioner as having ______________________

Answer 35

in-house lobbyists