International Business Quiz 1

What is the primary definition of international business?

• Economic activities within a single country

• Economic activities that cross national boundaries

• Domestic trade only

• Local business operations

Which of the following is NOT a driver of international business?

• Resource Access

• Market Saturation

• Cost Optimization

• Competitive Advantage

What percentage of global trade is projected to be led by Asia in 2024?

• 38%

• 45%

• 25%

• 50%

What is a significant challenge in international business related to currency?

• Market Expansion

• Currency Fluctuations

• Resource Access

• Cultural Differences

Which emerging trend is reshaping international trade patterns?

• Digital Trade Expansion

• Decreased globalization

• Local sourcing

• Increased tariffs

What is a key responsibility of a Trade Consultant?

• International expansion planning

• Managing global logistics

• Market entry strategies

• Cross-cultural campaigns

How does globalization facilitate international business?

• By increasing local competition

• By breaking down barriers through technology

• By limiting market access

• By reducing trade agreements

What is one of the economic motivations for companies to engage in international business?

• Reduced competition

• Limited resource access

• Increased regional focus

• New Market Access

Which technology is mentioned as enabling more efficient global collaboration?

• Blockchain

• Social media

• Virtual reality

• 3D printing

What will be essential for success in the future of international business?

• Minimizing technology use

• Focusing solely on domestic operations

• Cross-Cultural Competence

• Understanding local markets only