Unit 27 QUIZ

TASK 1: Find the term matching the definition below

1. _______________________________The ability of an individual or group to carry
out a particular economic activity more efficiently than another individual or group.
2. _______________________________ Exporting goods at prices lower than the home-
market prices; the offering for sale of large quantities (of goods) on foreign markets at
low prices in order to maintain a high price in the home market and obtain a share of
the foreign markets
3. _______________________________ a secondary or unintended consequence; A
consequence of an industrial or commercial activity which affects other parties
without this being reflected in market price
4. _______________________________ New industry in its early stages of
development, and in need of protection from predatory competition through tariff and
non-tariff barriers until it is established.
5. _______________________________ marked by success or economic well-being
6. _______________________________ the policy some countries have of helping their
own industries by putting a large tax on imported goods or by restricting imports in
some other way.
7. _______________________________ a prescribed number or quantity, as of items to
be manufactured, imported, or exported, immigrants admitted to a country, or students
admitted to a college
8. _______________________________ a tax that a government collects on goods
coming into a country.
9. _______________________________ regulations or policies that restrict international
trade, especially tariffs, quotas,etc
10._______________________________ free, unrestrained
1.
TASK 2: Fill in the gap with the matching term from Task 1
1. By exposing ____________________ and farmers in developing countries to unfair competition
from powerful multinational companies, farmers will be driven off their land and a process of
deindustrialisation will begin

2. The ____________________ practice of any doctrine always leads to tyranny.

3. Now, with the advent of the EC, the ____________________ had dropped overnight.

4. Reformers argue that this laissez faire attitude toward corporate consolidation has accelerated
inequality and created myriad ____________________ that harm basically everyone in one way
or another.

5. The company had a ____________________ year.

6. America wants to eliminate ____________________ on items such as electronics. 

7. ...talks to promote free trade and avert increasing ____________________.

8. Many developing countries have ____________________ in the price of unskilled labor.

9. Hungary will hold a referendum next month to back up its rejection of a

____________________ system.

10. There is nothing we can do about ____________________ - selling goods at below production
cost.