12 Questions
What is an unstable currency, such as the Turkish Lira, known as?
Soft currency
What term is used for the amount of worth that is added to a product as it is processed?
Value added
As of 2023, how many member nations are a part of the ISO?
182
What will a trade sanction most likely do to the price of an affected product or service?
Increase the price
The reliance of people (or other countries) on each other for goods, services or ideas is known as what?
Interdependence
What is the purchase of all or part of a company (but with controlling interest) located in another country called?
FDI
What is the term for the occurrence when a country imports more goods and services than it exports?
trade deficit
According to the textbook, approximately what percentage of Canada's total exports went to the United States?
67%
CETA is an acronym for...
Comprehensive Economic and Trade Agreement
Which one of these is the most correct?
Portfolio Investment
Of the following countries, which country is listed as one of the top three countries that Canada exports to?
United Kingdom
What is the purchase of stocks, bonds, and other financial instruments issued by Canadian firms called?
portfolio investment
Study Notes
International Trade and Economics
- An unstable currency, such as the Turkish Lira, is known as a Soft Currency.
- The term used for the amount of worth that is added to a product as it is processed is Value Added.
- As of 2023, there are 165 member nations that are part of the International Organization for Standardization (ISO).
- A trade sanction will most likely increase the price of an affected product or service.
- The reliance of people (or other countries) on each other for goods, services or ideas is known as Interdependence.
- The purchase of all or part of a company (with controlling interest) located in another country is called a Foreign Direct Investment (FDI).
- The term for the occurrence when a country imports more goods and services than it exports is a Trade Deficit.
- Approximately 75% of Canada's total exports went to the United States.
- CETA is an acronym for Comprehensive Economic and Trade Agreement.
- The United States is one of the top three countries that Canada exports to, along with China and Mexico.
- The purchase of stocks, bonds, and other financial instruments issued by Canadian firms is called Foreign Portfolio Investment.
Test your knowledge of currency and business terminology with this quiz. Identify the term for an unstable currency and understand the drawbacks of joint ventures as mentioned in a textbook. Also, explore the term used for the value added to a product during processing.
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