Understanding Globalisation in Business

Which of the following best defines the term "globalisation of business"?

• The process of increasing local business operations within a single country

• The process by which businesses develop international influence or start operating on an international scale

• The reduction of trade between countries

• The focus on domestic products over imported goods

Which of the following is a primary driver of globalisation in business?

• Decreased transportation costs

• Increased tariffs

• Stricter immigration laws

• Reduced communication technology

Which international agreement is known for reducing trade barriers and promoting free trade among Canada, the United States, and Mexico?

• European Union (EU)

• North American Free Trade Agreement (NAFTA)

• Association of Southeast Asian Nations (ASEAN)

• Trans-Pacific Partnership (TPP)

What is one potential disadvantage of globalisation for Canadian businesses?

• Increased access to international markets

• Greater competition from foreign companies

• Opportunities for international partnerships

• Access to a larger talent pool

Which of the following is an example of a multinational corporation?

• A local bakery in Toronto

• Tim Hortons operating only in Canada

• McDonald’s with restaurants in over 100 countries

• A Canadian farmer selling produce at a local market

Which of the following is NOT a benefit of globalisation for consumers?

• Greater variety of products

• Lower prices due to increased competition

• Improved product quality

• Decreased access to international goods

Which Canadian city is most recognised as a global financial centre?

• Vancouver

• Montreal

• Toronto

• Calgary

Which of the following best describes "outsourcing" in the context of global business?

• Hiring only local employees

• Moving business operations to another country to reduce costs

• Selling products exclusively in Canada

• Increasing tariffs on imported goods

Which of the following is a challenge faced by businesses due to globalisation?

• Access to new markets

• Navigating different legal and regulatory systems

• Increased economies of scale

• Enhanced innovation

• $200,000 trade deficit

• $200,000 trade surplus

• $800,000 trade deficit

• $800,000 trade surplus