74 Global Trade Trivia Questions with Answers
74 public questions with answers, drawn from the well. How many can you answer?
What is the term for a bank-guaranteed payment document in international trade?
Answer
Letter of credit
What is the term for preferential tariff treatment given to developing countries by developed nations?
Answer
Generalized System of Preferences
What is the name of the agreement that created the World Trade Organization?
Answer
Marrakesh Agreement
In WTO, what principle requires equal treatment for all trading partners?
Answer
Most-favored-nation
What is the term for selling goods abroad at below cost?
Answer
Dumping
What is the name of China's global infrastructure project?
Answer
Belt and Road Initiative
What treaty replaced NAFTA in 2020?
Answer
USMCA
Which country is the world's largest exporter of crude oil?
Answer
Saudi Arabia
Which strait is a major chokepoint for oil shipments from the Persian Gulf?
Answer
Strait of Hormuz
Which organization sets rules for international trade?
Answer
World Trade Organization
Which currency is most commonly used in international trade?
Answer
US dollar
What is the term for a tax on imported goods?
Answer
Tariff
What is the name of the canal that connects the Atlantic and Pacific Oceans?
Answer
Panama Canal