International Trade MCQ With Answers

MCQs on International Trade Blocks

____ is a group of countries agree to abolish all trade restrictionsand barriers.

A. Common market

B. Economic Union

C. Custom Union

D. Free Trade Area

EU stands for _____

A. Export Union

B. European Union

C. EXIM Union

D. Export Unit

The abbreviation SAARC stands for _______

A. South American Association for Regional Cooperation

B. South African Association for Regional Cooperation

C. South ASEAN Association for Regional Cooperation

D. South Asian Association for Regional Cooperation

The full form of WTO is __________

A. World Tariff Organization

B. World Trade Organization

C. Western Trade Organization

D. World Transport Organization

________was replaced by WTO on January 1, 1995.

A. NAFTA

B. IMF

C. IRDB

D. GATT

In International Trade, Full form of NAFTA is ___________.

A. National American Free Trade Agreement

B. North Asian Free Trade Agreement

C. New Anti-Tariff Free Trade Agreement

D. North American Free Trade Agreement

AFTA is ___________.

A. ASEAN Free Trade Area

B. American Free Trade Area

C. Asian Free Trade Area

D. Agreement for Free Trade Area

ASEAN stands for ___________.

A. The Association of Southeast American Nations

B. The Association of Southeast Asian Nations

C. The Agreement of Southeast American Nations

D. The Agreement of Southeast Asian Nations

__________was established by a multilateral treaty of 23 countries in 1947.

A. WTO

B. UN

C. GATT

D. NAFTA

In International Trade, IMF stands for ___________.

A. International Monetary Fund

B. International Money Fund

C. International Market Fund

D. International Monetary Firm