Amiel Marie Lagahit BSE 4C

Quiz in ENCC 433

1. Explain what are trade barriers.

- A barrier trade is a government-imposed retrain on the flow of international goods or
services. Those restraints are sometimes obvious, but are most often subtle and non-
obvious.
- The most direct direct barrier to trade is an embargo which means a blockade or
political agreement that limits a foreign country’s liability to export and import.
- The most common barrier to trade is a tariff which means a tax on imports.
- Another common barrier to trade is a government subsidy which means a particular a
domestic industry
- Barrier to trade are often called “protection” because their stated purpose is to shield
or advance particular industries or segments of an economy.
2. What are the differences between a free trade agreement and international trade agreement.
- FTAs are treaties between two or more countries designed to reduce or eliminate
certain barriers to trade and investments, and to facilitate stronger trade and
commercial ties between participating countries, while
- international trade agreements allows countries to expand their markets and success
goods and services that otherwise may not have been available domestically.
3. What can affect global trade?
- There are 7 most influential factors affecting foreign trade. Impact of inflation, impact
of national income, impact of government policies, subsidies for exporters, restrictions
on imports, lack of restrictions on piracy, and impact of exchange rates.
4. What is meant by global trade compliance?
- encompasses the way in which goods are imported and exported across country
borders.
5. If an international trader violates a trade compliance what are the repercussion?
- affects the prices of consumer goods that are produced and sold in the domestic
market, which leads to changes in the wages received by individuals.
6. Currently the global financial market being shaken by the presence of cryptocurrency system,
via blockchain technology. Do you agree that using this kind of technology global trade and
logistics? How & why?
- yes i do agree, cryptocurrencies can be used to circumvent these capital controls and
taxes -legal or not which has led to increase demand on the part of consumers and
businesses.
7. What is the role of customs in trade?
- customs mandate is to ensure that goods flowing across borders comply with a wide
range of regulatory requirements and multilateral trading rules.
8. What is the impact of pandemic towards global trading and logistics?
 - the covid 19 pandemic and resulting economic
9. What do you understand by cultural diversity?
10. Cultural influences international marketing activities, but marketing activities also influence
culture. Describe how global brands influence local cultures and discuss the ethical dilemmas
of such influences.
11. What is trade liberalization? What is its impact on international trade?
12. Describe global culture. Do you think a truly global culture exists? In what way the technology
helped the emergence of global cultural pattern?
13. What is the role of IMF on international trade?
14. What benefits can a member of the GATT or WTO receive?
15. Is politics a barrier in international trade? Yes or no. Why?