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WorksheetsIntroduction to Global Business
Total questions: 20
Worksheet time: 10mins
Name
Class
Date
1.
Setting a limit on the quantity of a product that may be imported or exported within a given period to regulate international trade is called?
a)
Tariff
b)
Embargo
c)
Quota
d)
Deal
2.
___________ is a tax that a government places on certain imported products
a)
Tariff
b)
Embargo
c)
Quota
d)
Deal
3.
Stopping the export and import of a product is known as?
a)
Tariff
b)
Embargo
c)
Quota
d)
Deal
4.
These are typically found in airports & seaports and do not follow the regular trade customs and are considered duty-free
a)
Free-trade zones
b)
Free-trade agreements
c)
non-tariff alliances
d)
Common markets
5.
__________________ reduces trade barriers and encourages trade between countries.
a)
Free-trade zones
b)
Free-trade agreements
c)
non-tariff alliances
d)
Common markets
6.
Members do away with duties and other trade barriers - they allow companies to invest freely in each member’s country •ex. EU (European Union)
a)
Free-trade zones
b)
Free-trade agreements
c)
non-tariff alliances
d)
Common markets
7.
Purchasing the right to use a company name or business process in a specific way ex. McDonald’s, Burger King, KFC and Pizza Hut • •
a)
Licensing
b)
Joint venture
c)
Franchising
d)
Infrastructure
8.
Sports teams having their logo on memorabilia is considered?
a)
Licensing
b)
Joint venture
c)
Franchising
d)
Infrastructure
9.
An agreement between two or more companies to share a business project - this business is on a limited basis for control
a)
Licensing
b)
Joint venture
c)
Franchising
d)
Infrastructure
10.
A country being able to make a product or service at a lower cost than other countries is considered?
a)
Absolute advantage
b)
Concerning advantage
c)
Comparative advantage
d)
Available advantage
11.
A situation in which a country specializes in the production of a good or service at which it is relatively more efficient?
a)
Absolute advantage
b)
Concerning advantage
c)
Comparative advantage
d)
Available advantage
12.
Buying goods and services from another country is considered?
a)
Exporting
b)
Importing
13.
Selling goods and services to another country is considered?
a)
Exporting
b)
Importing
14.
When your exports are greater than your imports, this exists?
a)
Trade deficit
b)
Trade surplus
15.
When your exports are less than your imports, this exists?
a)
Trade deficit
b)
Trade surplus
16.
A company that would like to build a golf course that could be played year round would need to consider which component of the international business environment?
a)
Geography
b)
Culture
c)
Economy
d)
Infrastructure
17.
A company is worried that about exchange rate would need to consider which component of the international business environment?
a)
Geography
b)
Culture
c)
Economy
d)
Infrastructure
18.
A company is worried that about the norms and customs of a country would need to consider which component of the international business environment?
a)
Geography
b)
Culture
c)
Economy
d)
Infrastructure
19.
A country that lacks ability to logistically transport imports & exports would be concerned with which component of the international business environment?
a)
Geography
b)
Culture
c)
Economy
d)
Infrastructure
20.
A country concerned about lack of skilled workers to complete jobs in emerging careers would have potential business partners concerned with which component?
a)
Geography
b)
Culture
c)
Economy
d)
Infrastructure
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