Trade Routes and Global Trade MCQ Test 2

1. What term describes the practice of reducing or eliminating trade barriers between two or more countries to encourage economic cooperation?

2. During the Age of Exploration, which spice became highly sought after and played a significant role in the establishment of trade routes?

3. During the medieval period, which commodity became known as 'white gold' due to its economic importance and impact on trade routes?

4. During the Renaissance, which city-state became a major hub for banking, trade, and commerce, playing a central role in European finance?

5. What economic term describes the situation where a country's currency is worth more compared to other currencies?

6. Which ancient civilization established a significant maritime trade route connecting the Mediterranean to India and China?

7. What is the term for a trade agreement between three countries, often involving economic cooperation and coordination on various levels?

8. Which rare trade route connected the civilizations of ancient Egypt and Nubia, facilitating the exchange of goods such as gold, ivory, and ebony?

9. What economic term describes a situation where a country intentionally depreciates its currency to gain a competitive advantage in international trade?

10. Which rare trade route connected the ancient Mayan civilization to other Mesoamerican cultures, enabling the exchange of jade, obsidian, and ceremonial items?

11. In modern international trade, what does the term 'GATT' stand for?

12. What term is used to describe a situation where two countries agree to reduce or eliminate trade barriers, promoting the exchange of goods and services?

13. During the Age of Exploration, which navigational instrument significantly improved maritime navigation and contributed to the expansion of global trade routes?

14. Which ancient trade route was known as the 'Silk Road of the Sea' due to its maritime nature?

15. Which ancient civilization developed the Amber Road, a trade route connecting the Baltic Sea to the Adriatic Sea?

16. Which ancient trade route connected the civilizations of Mesopotamia and the Indus Valley, facilitating the exchange of goods such as precious stones and metals?

17. What term describes a situation where two or more countries agree to reduce or eliminate barriers to trade between them?

18. Which ancient trade route connected the Mediterranean to the Red Sea, allowing trade between Egypt and other civilizations?

19. Which historical trade route connected Africa to the Mediterranean, facilitating the exchange of goods like gold, salt, and ivory?

20. What term is used to describe a trade system where goods and services are exchanged without the use of money?

21. During the Renaissance, which city-state became a major center for trade and commerce, playing a crucial role in the economic and cultural development of Europe?

22. In modern trade, what organization aims to promote international economic cooperation and development?

23. What is the term for a route that connected Europe, Asia, and Africa, facilitating the exchange of goods and cultural ideas?

24. What is the term for an economic system where the means of production and distribution are privately or corporately owned?

25. Which international organization, established in 1995, oversees global rules of trade between nations and resolves disputes related to trade agreements?

26. What is a key feature of land-based trade routes in history?

27. In international trade, what does the term 'dumping' refer to?

28. What modern trade agreement aims to promote economic cooperation among North American nations?

29. Which historical trade route connected the Mediterranean region to northern Europe, facilitating the exchange of goods such as amber, furs, and salt?

30. Which ancient trade route connected the Roman Empire to the Indian subcontinent, facilitating the exchange of goods such as spices, precious stones, and textiles?

31. Which international trade agreement, signed in 1994, aimed to create a comprehensive trade alliance among North American countries?

32. Which trade route played a significant role in the exchange of goods such as tea, silk, and porcelain between China and the Western world?

33. During the Han Dynasty, which trade route connected China to the Roman Empire, facilitating the exchange of silk, spices, and precious metals?

34. What term describes the practice of granting individuals or companies exclusive rights to engage in trade within a specific region or territory?

35. In modern global trade, what term refers to the practice of a country exporting more goods than it imports, resulting in a trade surplus?

36. During the Age of Exploration, which European explorer established the maritime route from Europe to India, significantly impacting global trade?

37. In ancient times, what was a key commodity exchanged along the Trans-Saharan Trade Route?

38. Which ancient trade network connected the Roman Empire to East Africa, India, and Southeast Asia, facilitating the exchange of goods and cultural influences?

39. In modern international trade, what does the term 'FTA' stand for?

40. Which unconventional trade network connected the ancient civilizations of Mesopotamia, facilitating the exchange of goods such as copper, pottery, and textiles?