Global Trade Multiple Choice - Answer Key

1. ______ occurs when companies move production or services to countries where labour costs are lower.
Answer: a) Outsourcing

2. ______ refers to the taxes placed on imported goods.
Answer: c) Tariffs

3. ______ allows businesses to access a wider range of customers and resources.
Answer: a) Globalisation

4. Businesses are affected by ______, which are agreements between countries to allow easier trade.
Answer: b) Trade agreements

5. ______ is the movement of goods and services without barriers like tariffs or quotas.
Answer: c) Free trade

6. An international ______ allows businesses to deliver products across borders.
Answer: b) Supply chain

7. One positive outcome of globalisation is increased ______ between countries.
Answer: a) Cultural exchange

8. Companies often rely on ______ to manage global operations more efficiently.
Answer: c) Trade agreements