wayground logo

Free Printable Worksheets

Font size

S
M
L
XL
Worksheets

International Business: Global Economy

Total questions: 35

Worksheet time: 18mins

Name
Class
Date
1.

Trade partners are countries that trade products with one another.

a)

False

b)

True

2.

If a country has low literacy levels, little to no technology and focuses on agricutlre or mining, that country is considered to be:

a)

Developing

b)

Industrialized

c)

Less-Developed

3.

Silk is a product created by what type of resource?

a)

Labor

b)

Capital

c)

Land

4.

Gross Domestic Product (GDP) is:

a)

The measure of the amount of money a country owes to other countries.

b)

The measure of the output of products created within a country.

c)

The measure of the difference between what a country sells versus what a country buys from other countries.

5.

When a country can create products at a lower cost than other countries, this is a(n) _________________ advantage.

a)

comparative

b)

absolute

6.

If a country has improving educational systems, increasing technology and expanding industries, that country is considered to be:

a)

Developing

b)

Industrialized

c)

Less-Developed

7.

_________________ is the making, buying and selling of products within a country.

a)

International business

b)

Global economy

c)

Domestic business

8.

A telephone is an example of a

a)

Service

b)

Good

9.

A customer service representative is a product created by what type of resource?

a)

Capital

b)

Land

c)

Labor

10.

_______________ refers to a world economy with movement of products and labor across international borders.

a)

International business

b)

Global economy

c)

Domestic business

11.

If a country has a highly eductated population, advanced technology, and focuses on international business and foreign trade, that country is considered to be:

a)

Industrialized

b)

Less-Developed

c)

Developing

12.

Services are provided to you by other ________________.

a)

people

b)

employees

c)

companies

d)

countries

13.

If a country trades with other countries because it has more than it needs of a certain product, the trade reason is:

a)

Political/Historical

b)

Specialization

c)

Increased competition

d)

Surplus

14.

Religion and language are two examples of ______________conditions that influence international business.

a)

political and legal

b)

cultural and social

c)

economic

d)

geographic

15.

Foreign debt is:

a)

The measure of the difference between what a country sells versus what a country buys from other countries.

b)

The measure of the amount of money a country owes to other countries.

c)

The measure of the output of products created within a country.

16.

How a country manages its resources is an example of its ___________ condition, which influences international business.

a)

political and legal

b)

economic

c)

geographic

d)

cultural and social

17.

A telephone operator is an example of a

a)

Service

b)

Good

18.

Climate and terrain are two examples of ______________ conditions that influence international business.

a)

economic

b)

cultural and social

c)

geographic

d)

political and legal

19.

War and unlawful activity are two examples of _______________conditions that influence international business.

a)

political and legal

b)

cultural and social

c)

economic

d)

geographic

20.

___________________________ is any activities needed to create, ship, and sell products across national borders.

a)

International business

b)

Global economy

c)

Domestic business

21.

An office building is a product created by what type of resource?

a)

Labor

b)

Capital

c)

Land

22.

Free trade is the ability for countries to trade with one another with restrictions.

a)

False

b)

True

23.

A good is a __________ product that you can see and touch.

a)

imitation

b)

physical

c)

imaginary

d)

spiritual

24.

What are taxes a country places on products as they cross its borders?

a)

Laws

b)

Tariffs

c)

Quotas

25.

The U.S. purchases oil from any other companies. For the U.S., oil in this case, is an example of an:

a)

Export

b)

Import

26.

International business is:

a)

all activities needed to create, ship and sell products across international borders.

b)

making, buying, and selling products within a country.

c)

refers to a world economy with movement of products and labor across international borders.

27.

A trade pattern is:

a)

what a country trades

b)

what direction a country trades in

c)

what a country trades and in what direction

d)

when a country trades

28.

Gross Domestic Product (GDP) measures:

a)

the amount of money a country owes to other countries

b)

the output of products created within a country

c)

the difference between what a country sells versus what a country buys from other countries

29.

A ____________ is a limit of how much of a product can be brought into a country during a specific time.

a)

quota

b)

tariff

c)

law

30.

Which 3 of the following are exports?

a)

US cars sold in Europe

b)

Nebraska beef sold in Japan

c)

Brazillian bananas sold in Canada

d)

Saudi Arabian oil sold in the US

31.

When facing ethical dilemmas in international business, what is one of the questions that should be asked?

a)

Wil I get into trouble?

b)

Who will know?

c)

Is the action legal?

d)

Should I tell someone?

32.

Reducing the number of resources available to the global community is one of the ways in which economic conditions affect international business.

a)

True

b)

False

33.

Which 4 of the following influence international business?

a)

geographic conditions

b)

cultural and social factors

c)

political and legal factors

d)

economic conditions

e)

trade partners

34.

Imports are goods that are brought into a country for sale.

a)

True

b)

False

35.

Exports are goods that are sold to another country for sale in that country.

a)

True

b)

False