Test your basic knowledge |

Foreign Trade And Exchange Vocab

Instructions:
  • Answer 25 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Founded in 1944 helps poorest people in the poorest countries - provides resources - shares knowledge - builds capacity in developing countries - tries to organize people and resources of country so they can be involved in the global market place






2. Largest market in the world - 24 hour buying and selling currencies takes place - no central headquarters






3. A difference in the supply and demand will automatically be fixed in the market






4. Refers to how much quantity of product/service is desired by the buyer






5. Developed countries money (america - england - japan)






6. Founded in 1944 - international organization of 183 countries - promotes money cooperation






7. Sell






8. Rate the government sets and keeps as the official exchange rate






9. When the headquarters/parent of the company is effectively owned in 2 or more countries






10. Relations between 1 economy and others around the world






11. A government tax on imports or exports - also called duty






12. Began 1961 has 15 countries - euro in all 15 countries exchange and services and the right to work in other countries






13. A generally excepted form of money






14. Inflation - value of money declines - prices rise






15. Started in 1975 - group of developed countries (US - Germany - France - Great Britan - Italy) Russia wants to join which would make it G8






16. Developing countries money (mexico - madagascar - Egypt)






17. Buy






18. Trader purchases a lot of currency






19. Agreement where countries agree to trade together not illegal documents






20. Trader sells a lot of a currency






21. Sluggish economic growth - rising unemployment






22. Represents how much the market can offer






23. In Switzerland - bank for central banks provides broad range of financial services - deals with value of currencies and Who is trading with whom






24. The rate at which one currency can be exchanged for another






25. Established Januaray 1 - 1995 - only global international organization that deals with rules of trade between nations