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WorksheetsExploring Global Business
Total questions: 15
Worksheet time: 8mins
Name
Class
Date
1.
How is a tariff best described?
a)
A tax on imports
b)
A violation of human rights
c)
Comparative Advantage
d)
Contributing to a favorable balance of trade
2.
A nation may put a limit on the amount of foreign goods imported by placing a _____ on these goods.
a)
Export
b)
Quota
c)
Deficit
d)
Trade Surplus
3.
The ability of a country to produce a product at a lower cost than another country is called...
a)
Free trade
b)
Comparative Advantage
c)
Balance of trade
d)
Import quota
4.
NAFTA was made among...
a)
The U.S., Canada, and Mexico
b)
European Countries
c)
Developing Countries
d)
The U.S., Russia, and China
5.
Why do some countries have trade barriers?
a)
To encourage trade
b)
To do away with quotas
c)
To become communist
d)
To protect their economies
6.
An important force that is driving globalization are multinationals, which are...
a)
UN peacekeeping forces
b)
Large firms that do business in many countries
c)
Organizations that promote conservation
d)
Made up of business leaders from developing countries
7.
The set of beliefs, goals, and practices that a group of people share is known as:
a)
behavior
b)
interdependence
c)
culture
d)
diffusion
8.
Culture is spread by...
a)
Movement of people
b)
TV and Internet
c)
War and conquest
d)
All are correct
9.
Goods or services that a country sells to other nations
a)
Duty
b)
Tariff
c)
Export
d)
Import
10.
Goods or services that a country buys from other nations.
a)
Duty
b)
Tariff
c)
Export
d)
Import
11.
What is logistics?
a)
Movement of goods from supplier to customer
b)
Movement of goods from customers to suppliers
c)
acquisition of goods
12.
What is a franchise?
a)
Where a business sells the rights to their brand
b)
Where you have full control
c)
Where you keep all the profits
13.
When two or more companies agree to share a business project and share the profits, they are operating a _____.
a)
franchise
b)
joint venture
14.
What is an official ban on trade or other commercial activity with a particular country?
a)
Tariff
b)
Product standard
c)
Embargo
d)
Quota
15.
Free trade means
a)
the countries use the same currency
b)
No trade barriers
c)
there is a quota on some goods
d)
trade is quick and easy
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