Current Issues in International Trade & International Retailing

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

A fictional country, Zerosburg, has no environmental or labor standards in their garment manufacturing industry. As a result, they are able to produce clothing at a substantially reduced cost than the United States. These imported products are subject to a 40% penalty for the purpose of leveling the playing field for American businesses. Therefore, the government of the United States has levied a _____.

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1. Say XYZ Software has suffered substantial financial losses in certain countries where their software is being illegally copied and distributed by third-parties. Which WTO priority is this scenario indicative of?

2. Say XYZ Hardware Group sells to home improvement retailers all over the world. When XYZ intentionally sells their lumber for far cheaper prices than the domestic marketplace, what WTO trade priority has been demonstrated?

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About This Quiz & Worksheet

Consider this worksheet/quiz to assess your knowledge of the current problems in global trade and retailing. Topics include the term for a monetary assessment that's levied by a government in order to control the price of imports and a priority of the World Trade Organization (WTO) associated with protecting the illegal copying and distribution of a product.

Quiz & Worksheet Goals

You'll be quizzed on the following:

  • WTO trade priority to protect a domestic marketplace being undermined by an international company
  • Type of war that's created between two countries who engage in protections/regulations related to their exchange of imports and exports
  • Reasons for the complex nature of agricultural protectionism

Skills Practiced

  • Making connections - use your understanding of monetary assessments and how they're connected to the way a government levies price controls on a country's imports
  • Information recall - access the knowledge you've gained regarding a war between two countries who use regulations and protections in their exports and imports
  • Knowledge application - use your knowledge to answer questions about the reasons that agricultural protectionism is complicated and a WTO priority for protecting companies from having their products produced illegally by another organization

Additional Learning

For more on global economics, you can review the lesson named Current Issues in International Trade & International Retailing. These topics will be highlighted:

  • Example of a discrepancy between international and domestic trade
  • Trade imbalance between the U.S. and China
  • Importance of agricultural protectionism
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