International Business and Economics Quiz

Products sold by companies in the United States to customers in India are exports.

• True

• False

International trade usually reduces the product choices available to consumers.

• True

• False

Import taxes are a form of trade barrier.

• True

• False

International business can help to improve political relations among countries.

• True

• False

Culture refers to the type of government of a country.

• True

• False

A country's need to purchase food from other countries is an example of

• exporting

• domestic business

• global dependency

• a trade barrier

A global dependency exists when

• massive crop failures require buying food from another country.

• a country buys tools from another country because it does not have the technology to make the tools.

• doctors travel to another country to provide healthcare because there is a shortage of medically-trained professionals in that country.

• all of the options

Business activities that occur within one country are called

• foreign trade

• domestic business

• international business

• free trade

An example of exporting would be

• products made and sold in Japan.

• a European country's tax on products made in other countries.

• products that were made in Poland and bought by Polish consumers.

• products sold by a company in Mexico for purchase by Italian consumers.

A cultural factor affecting international business activities would be

• the availability of natural resources.

• government policies toward business.

• stability of the money supply.

• family relationships.