National Trade Policies: Economic Impact & Market Share

Instructions:

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

question 1 of 3

How many trading parties exist in a bilateral trade agreement?

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1. What is defined as each member of the trade agreement making economic gain from the agreement?

2. NAFTA stands for the

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About This Quiz & Worksheet

Use this quiz and attached worksheet to reflect what you know about national trade polices and their features and functions. The topics you will need to know in order to pass the quiz include trade agreements, international organizations of trade, and market attributes.

Quiz & Worksheet Goals

Use these assessment tools to apply your knowledge of:

  • Number of trading parties in a bilateral agreement
  • What is meant by economic gains between trade partners
  • NAFTA
  • Which organization oversees the rule of trade between nations
  • Portion of a market controlled by a particular entity

Skills Practiced

  • Reading comprehension - ensure that you draw the most important information from the related trade policies lesson
  • Knowledge application - use your knowledge to answer questions about NAFTA and bilateral trade agreements
  • Interpreting information - verify that you can read information regarding features of national trade policies and interpret it correctly

Additional Learning

To learn more about trade policies, take a look at the lesson called National Trade Policies: Economic Impact & Market Share. In this lesson, you will find more information about:

  • Definition of 'trade agreement'
  • Types and features of trade agreements and restrictions
  • Characteristics of a tariff
  • Most-favored-nation status
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