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WorksheetsInternational Business: Global Economy
Total questions: 35
Worksheet time: 18mins
Trade partners are countries that trade products with one another.
False
True
If a country has low literacy levels, little to no technology and focuses on agricutlre or mining, that country is considered to be:
Developing
Industrialized
Less-Developed
Silk is a product created by what type of resource?
Labor
Capital
Land
Gross Domestic Product (GDP) is:
The measure of the amount of money a country owes to other countries.
The measure of the output of products created within a country.
The measure of the difference between what a country sells versus what a country buys from other countries.
When a country can create products at a lower cost than other countries, this is a(n) _________________ advantage.
comparative
absolute
If a country has improving educational systems, increasing technology and expanding industries, that country is considered to be:
Developing
Industrialized
Less-Developed
_________________ is the making, buying and selling of products within a country.
International business
Global economy
Domestic business
A telephone is an example of a
Service
Good
A customer service representative is a product created by what type of resource?
Capital
Land
Labor
_______________ refers to a world economy with movement of products and labor across international borders.
International business
Global economy
Domestic business
If a country has a highly eductated population, advanced technology, and focuses on international business and foreign trade, that country is considered to be:
Industrialized
Less-Developed
Developing
Services are provided to you by other ________________.
people
employees
companies
countries
If a country trades with other countries because it has more than it needs of a certain product, the trade reason is:
Political/Historical
Specialization
Increased competition
Surplus
Religion and language are two examples of ______________conditions that influence international business.
political and legal
cultural and social
economic
geographic
Foreign debt is:
The measure of the difference between what a country sells versus what a country buys from other countries.
The measure of the amount of money a country owes to other countries.
The measure of the output of products created within a country.
How a country manages its resources is an example of its ___________ condition, which influences international business.
political and legal
economic
geographic
cultural and social
A telephone operator is an example of a
Service
Good
Climate and terrain are two examples of ______________ conditions that influence international business.
economic
cultural and social
geographic
political and legal
War and unlawful activity are two examples of _______________conditions that influence international business.
political and legal
cultural and social
economic
geographic
___________________________ is any activities needed to create, ship, and sell products across national borders.
International business
Global economy
Domestic business
An office building is a product created by what type of resource?
Labor
Capital
Land
Free trade is the ability for countries to trade with one another with restrictions.
False
True
A good is a __________ product that you can see and touch.
imitation
physical
imaginary
spiritual
What are taxes a country places on products as they cross its borders?
Laws
Tariffs
Quotas
The U.S. purchases oil from any other companies. For the U.S., oil in this case, is an example of an:
Export
Import
International business is:
all activities needed to create, ship and sell products across international borders.
making, buying, and selling products within a country.
refers to a world economy with movement of products and labor across international borders.
A trade pattern is:
what a country trades
what direction a country trades in
what a country trades and in what direction
when a country trades
Gross Domestic Product (GDP) measures:
the amount of money a country owes to other countries
the output of products created within a country
the difference between what a country sells versus what a country buys from other countries
A ____________ is a limit of how much of a product can be brought into a country during a specific time.
quota
tariff
law
Which 3 of the following are exports?
US cars sold in Europe
Nebraska beef sold in Japan
Brazillian bananas sold in Canada
Saudi Arabian oil sold in the US
When facing ethical dilemmas in international business, what is one of the questions that should be asked?
Wil I get into trouble?
Who will know?
Is the action legal?
Should I tell someone?
Reducing the number of resources available to the global community is one of the ways in which economic conditions affect international business.
True
False
Which 4 of the following influence international business?
geographic conditions
cultural and social factors
political and legal factors
economic conditions
trade partners
Imports are goods that are brought into a country for sale.
True
False
Exports are goods that are sold to another country for sale in that country.
True
False
