World Trade Organization Quiz

Which of the following was NOT used as primitive money in ancient societies?

What were the first recognizable metal coins made of in China?

What led to the use of metal pieces as money?

What was the reason for the transition from tools and weapons to circular shapes for coins?

In which region and year did the first industrial facility for minting coins appear?

What type of metal was used in the first official currency minted in Lydia?

What is the process of making a coin by stamping metal called?

What role did Marco Polo play in the development of money?

In what year were the French authorities initially forced to reissue card money due to revenue shortfalls?

What was the primary reason behind the issuance of card money in Canada?

What was the significance of the declaration that 'all debts and contracts in Canada became payable in monnoye de France' in 1717?

Which of the following statements best describes the significance of copper coins introduced in 1722?

What role did ordonnances and acquits play in 18th century Canadian monetary system?

What significant event in 1729 altered the use of card money in Canada?

What significant shift occurred in the Canadian monetary system by the early 1750s?

What was the consequence of the rapid increase in the amount of paper money in circulation during the late 1750s?

Which of the following characteristics is NOT associated with Mercantilism?

Which event is cited as the catalyst for the emergence of Mercantilism in Europe?

What is the primary aim of Mercantilist policies with respect to international trade?

Which of the following is NOT a characteristic of Mercantilist policies?

What was the primary role of merchant fleets in Mercantilist economies?

Which of the following contributed to the transition from local economies to national economies during the Commercial Revolution?

What was the main reason for the rise of new nation-states in the 1500s?

How did Mercantilist rulers view the accumulation of gold and silver?

Which of the following is NOT a disadvantage of bartering?

What is the primary advantage of bartering?

Which of the following scenarios is NOT a direct consequence of the disadvantages of bartering?

What is the primary reason for the resurgence of bartering in recent times?

Why did early humans not need to barter?

How did intergroup interaction lead to the development of bartering?

What is the primary distinction between barter and the use of money?

How does the internet facilitate bartering in modern times?

What did Giovanni Botero and Antonio Serra emphasize about a nation's wealth?

Adam Smith's work in The Wealth of Nations is significant because it:

What is the main argument against mercantilist policies as outlined by Adam Smith?

What is an example of a country having an absolute advantage over another?

What is the fundamental basis of absolute advantage according to the text?

What is the main difference between the theories of Botero and Serra and Adam Smith?

How did Adam Smith's economic theories differ from mercantilist doctrine?

What is a key factor for a country to have an absolute advantage in a particular industry?

What is the main focus of Adam Smith's theory of absolute advantage?

According to the theory of absolute advantage, what should countries do with products they produce less efficiently?

What principle did the Physiocrats emphasize regarding the source of a nation's wealth?

How did Adam Smith's theory of absolute advantage differ from mercantilist views?

What was François Quesnay's key concept regarding agriculture?

Which of the following is a consequence of the theory of absolute advantage?

What is the critique the Physiocrats had against manufacturing and commerce?

According to the theory of absolute advantage, when should two countries engage in trade?