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Choose the word or word combination to match the definition. 1. Trade between buyers in one country and sellers in other countries. a) domestic trade b) foreign trade c) national trade

1. Trade between buyers in one country and sellers in other countries.

a) domestic trade b) foreign trade c) national trade


2. An amount that is taken off the normal selling price of a product.

a) ) trade surplus b) trade mark c trade discount


3. A group of countries that agree to trade with each other on favourable terms.

a) trade association b) trade block c) trade creditor


4. An amount that must be paid when particular goods are imported into a country, or something when they are exported.

a) barrier b) restriction c) tariff


5. A limit on the amount of a particular good that may be imported into a country during a given period of time.

a) protectionism b) quota c) deficit


6. A set of restrictions imposed by a government on buying and selling foreign currencies.

a) exchange control b) exchange rate c) foreign exchange


7. Trade between countries with few government restrictions.

a) external trade b) international trade c) free trade


8. The level of material comfort and wealth that a person or community has.

a) living wage b) living standard c) standard rate


9. A situation where a country exports more goods than it imports.

a) trade investment b) trade surplus c) trade deficit


10. Goods, as opposed to services, that are sold to other countries.

a) invisible exports b) visible imports c) visible export


11. The transport of goods by sea or air.

a) carriage b) freight c) front loading


12. An item, a service, an idea that is brought into one country from another.

a) export b) import c) cargo


13. An international organization that promotes trade in goods and services between nations.

a) the World Trade Organization b) the World Bank
c) the International Monetary Fund


14. The process of trying to reach an agreement through discussion.

a) negligence b) necessity c) negotiation


15. An agreement, usually written and signed by those making it.

a) commerce b) contract c) dealings

16. Something done in a society because of tradition.

a) customary b) customs c) custom


17. The central bank, controlled by the United Nations, that lends money to member states.

a) the Central Bank b) the Federal Reserve System
c) the World Bank


18. The amount by which the value of a country's imports is greater than the value of its exports.

a) trade bill b) trade deficit c) trade surplus


19. An arrangement between countries to follow certain rules on pricing, import duties, etc. when buying from and selling to each other.

a) trade association b) trade agreement c) trade directory


20. A small amount of money (in addition to the normal charge) to a waiter, taxi-driver, etc. to thank him/her.

a) tip b) title c) token


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