U1 Test M/C

Question 1

This disadvantage of International trade/environmental issues

Answer 1

jobs go to countries where laws are more relaxed on manufacturing plants and their waste

Question 2

T/F
Canada (and its Provinces) provide signification public sector investment into education

Answer 2

True

Question 3

T/F
Subsidies are taxes levied on imported goods for the purpose of raising their selling price

Answer 3

false

Question 4

During the Middle Ages, taxes on goods were

Answer 4

collected

Question 5

The original or first, international trade route was called

Answer 5

The Silk Road

Question 6

‘Team Canada’ is used by Canadian sports teams, but is also used as a Government mission, to help to grow Canadian

Answer 6

Trade

Question 7

T/F Trade barriers can be used to protect cultural industries or national identities

Answer 7

true

Question 8

The early European trade with Canadian Indigenous people, featured this product

Answer 8

Fur

Question 9

T/F Learning inputs are part of the definition of economies of scale

Answer 9

true

Question 10

Increasing your knowledge of foreign cultures, languages and ideas, as part of preparing the international workplace, would be considered

Answer 10

Increasing your knowledge

Question 11

T/F Guilds only controlled agricultural products

Answer 11

false

Question 12

T/F
‘Communes’ are somewhat self-sufficient

Answer 12

true

Question 13

T/F Self-sufficiency is when a country provides everything its people need to live, without having to trade with other countries

Answer 13

true

Question 14

T/F Quotas are numerical limits placed on imported goods

Answer 14

true

Question 15

During the last Century, Canada’s economy moved from ______________ to _________________

Answer 15

Primary Resource Based to Semi-manufactured & End Product

Question 16

T/F Understanding the way business is done in another country, is a challenge of exporting

Answer 16

true

Question 17

T/F A quota is an example of a tariff, or import duty

Answer 17

true

Question 18

“In today’s business environment, even a small business is competing with international businesses.” This is an example of Canadian businesses

Answer 18

competing

Question 19

International time is measure as being ahead or behind of the time in

Answer 19

Greenwich

Question 20

T/F Outsourcing is paying another company to do perform tasks or services for your company

Answer 20

true

Question 21

T/F Champlain was the first European to land on the shores of Newfoundland in the late 1400’s

Answer 21

false

Question 22

T/F During the ‘Early Trade’ phase, primarily highly processed or refined goods, were traded around the Mediterranean

Answer 22

false

Question 23

T/F Good infrastructure is just one aspect of many advantages of doing business in Canada

Answer 23

true

Question 24

By the 1700 & 1800’s, the Canadian economy became ____________ on other countries for trade, including the US

Answer 24

Interdependent

Question 25

reasons for growth in international trade/business

Answer 25

a. Development in Transportation
b. Freer Borders
c. Business Confidence

Question 26

Importing

Answer 26

Companies bringing in products to satisfy the consumers in their own country

Question 27

T/F The FTAA was the free trade agreement signed in 1993 for Canada, the US and Mexico

Answer 27

false

Question 28

T/F Spain introduced the slave trade to the Americas

Answer 28

true

Question 29

T/F A step in exporting a good, includes agreeing to sales terms

Answer 29

true

Question 30

This changed international trade in Canada, eliminating jobs for many Canadian Indigenous people

Answer 30

Silk replacing beaver, to create top hats