International Trade quiz

More questions about International Trade

These visible examples show the question style. LearnClash turns the full topic into ranked duels and spaced repetition.

1. 1 Easy

   Which drinks company took Soviet submarines as payment in 1989?

   Answer: PepsiCo

   Why: With the rouble useless abroad, a 1972 deal had already swapped PepsiCo's cola for Stolichnaya vodka.

2. 2 Medium

   What market sells genuine goods imported without the brand's approval?

   Answer: Grey market

   Why: Grey imports are the real thing and often cheaper, but they frequently lack the maker's local warranty or support.

3. 3 Hard

   What dish gives its name to a tangle of overlapping trade deals?

   Answer: Spaghetti bowl

   Why: Each deal sets its own rules of origin, so a firm selling to several partners must prove where its goods come from in different ways.

4. 4 Easy

   Which superheroes did a US court class as non-human for tariffs?

   Answer: X-Men

   Why: Dolls of humans paid a 12% US tariff and toys of non-human creatures 6.8%, so the ruling nearly halved the duty.

5. 5 Medium

   Why do some Converse sneakers have felt on their soles?

   Answer: Lower tariffs

   Why: Rubber-soled sneakers can face US duties of 37.5%, but felt over half the sole drops the rate to 7.5% to 12.5%.

6. 6 Hard

   Which cost must be lower to have a comparative advantage?

   Answer: Opportunity cost

   Why: Making something with fewer workers is absolute advantage; comparative advantage only needs giving up less of other goods to make it.