Int‘l biz CH01 Basics Quiz

What is another term for international business?

• National trade

• Global trade

• Regional commerce

• Local business

Why is international business important?

• Global dependency

• Reduced political relations

• Decreased demand for materials

• Limited market opportunities

When did international business start?

• 5,000 years ago

• 10,000 years ago

• 15,000 years ago

• 20,000 years ago

Which country was colonized by Portugal?

• Australia

• Chile

• Canada

• Brazil

What skills are important for international business?

• Mathematics and Science

• Physical education and Music

• Foreign language and Cultural awareness

• History and Geography

What is the term for products that a seller sells to other countries?

• Imports

• Exports

• Trade barriers

• Global trade

What is the term for products that a buyer buys from businesses in other countries?

• Global trade

• Trade barriers

• Exports

• Imports

Why does a country need trade barriers?

• To protect domestic industries

• To decrease exports

• To promote global trade

• To increase imports

Other than tariff barriers, what are some examples of trade barriers?

• Quotas and embargoes

• Language barriers

• Geographic barriers

• Cultural barriers

What is the main purpose of international business?

• To increase domestic competition

• To expand market reach

• To decrease exports

• To promote local trade