Chapter 3: Global Business

Chapter 3: Global Business

11th Grade

20 Qs

quiz-placeholder

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Chapter 3: Global Business

Chapter 3: Global Business

Assessment

Quiz

Business

11th Grade

Practice Problem

Hard

Created by

Christie Milam

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

International business includes all business activities that involve exchanges across state boundaries.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Absolute advantage is the ability to produce a specific product more efficiently than any other nation.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

By definition, every country has a comparative advantage in some product.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Comparative advantage is the ability to produce a specific product more efficiently than any other nation.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Purchasing raw materials or products in other nations and bringing them into one's own country is known as importing.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A country has a favorable balance of trade if it imports more than it exports.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The total flow of money into a country minus the total flow of money out of the country over some period of time is called the nation's balance of trade.

True

False

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