International Trade Organization and Agreements Mcq

International Trade Organization and Agreements MCQ

International trade is an important aspect of the world`s economy, and it involves the exchange of goods and services between countries. International trade organizations and agreements are established to promote and regulate international trade. This article will test your knowledge of international trade organizations and agreements with multiple choice questions (MCQs).

1. What is the primary objective of the World Trade Organization (WTO)?

a. To promote free trade

b. To regulate international trade

c. To provide financial assistance to developing countries

d. To promote environmental sustainability

Answer: a. To promote free trade

2. The North American Free Trade Agreement (NAFTA) is an agreement between which countries?

a. United States, Canada, and Mexico

b. United States and Canada

c. United States and Mexico

d. Canada and Mexico

Answer: a. United States, Canada, and Mexico

3. Which trade organization is responsible for promoting trade and investment in the Asia-Pacific region?

a. World Trade Organization (WTO)

b. European Union (EU)

c. Association of Southeast Asian Nations (ASEAN)

d. Asia-Pacific Economic Cooperation (APEC)

Answer: d. Asia-Pacific Economic Cooperation (APEC)

4. What is the primary objective of the European Union (EU)?

a. To regulate trade within member states

b. To promote free trade within member states

c. To provide financial assistance to member states

d. To promote environmental sustainability within member states

Answer: b. To promote free trade within member states

5. Which trade agreement is between the United States and South Korea?

a. Trans-Pacific Partnership (TPP)

b. North American Free Trade Agreement (NAFTA)

c. United States-Mexico-Canada Agreement (USMCA)

d. United States-Korea Free Trade Agreement (KORUS)

Answer: d. United States-Korea Free Trade Agreement (KORUS)

6. Which trade agreement aims to eliminate tariffs and trade barriers between member countries in Southeast Asia?

a. Trans-Pacific Partnership (TPP)

b. North American Free Trade Agreement (NAFTA)

c. United States-Mexico-Canada Agreement (USMCA)

d. Association of Southeast Asian Nations (ASEAN) Free Trade Area

Answer: d. Association of Southeast Asian Nations (ASEAN) Free Trade Area

7. Which trade organization is responsible for promoting trade and investment between African countries?

a. African Union (AU)

b. World Trade Organization (WTO)

c. European Union (EU)

d. Asia-Pacific Economic Cooperation (APEC)

Answer: a. African Union (AU)

8. Which trade agreement is between the European Union and Japan?

a. Trans-Pacific Partnership (TPP)

b. North American Free Trade Agreement (NAFTA)

c. Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)

d. Japan-European Union (EU) Economic Partnership Agreement

Answer: d. Japan-European Union (EU) Economic Partnership Agreement

9. Which trade agreement is between the United States, Mexico, and Canada?

a. Trans-Pacific Partnership (TPP)

b. North American Free Trade Agreement (NAFTA)

c. Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)

d. United States-Mexico-Canada Agreement (USMCA)

Answer: d. United States-Mexico-Canada Agreement (USMCA)

10. Which trade organization is responsible for promoting trade and investment between the United States and African countries?

a. African Union (AU)

b. World Trade Organization (WTO)

c. European Union (EU)

d. United States Agency for International Development (USAID)

Answer: d. United States Agency for International Development (USAID)

Conclusion

International trade organizations and agreements play a crucial role in promoting and regulating international trade between countries. By testing your knowledge of these MCQs, you can gain a better understanding of the various trade organizations and agreements in place and how they impact the global economy.