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IB

Total questions: 90

Worksheet time: 1hrs 26mins

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
21.
All of the following are benefits of international business except
a)
expanded business opportunities
b)
increased sources of raw materials
c)
decreased competition
d)
improved political relationships
22.
All business activities needed to create, ship, and sell goods and services across national borders are considered to be 
a)
domestic business
b)
international business
c)
global dependency
d)
none of these
23.
Making, buying, and selling goods and services within a country is called
a)
international business
b)
global dependency
c)
domestic business
d)
none of these
24.
International business involves the buying and selling of products or services between countries.
a)
True
b)
False
25.
An example of domestic business is when a person living in Canada buys  a product made in Germany.
a)
True
b)
False
26.
Historically, international business
a)
is a relatively new concept made possibly by communications technolgy
b)
probably occurred as long as 15,000 years ago
c)
declined when European countries created colonies on other continents
d)
none of these
27.
All business activities needed to create, ship, and sell goods and services across national borders are considered to be 
a)
domestic business
b)
international business
c)
global dependency
d)
none of these
28.
A global dependency exists when
a)
massive crop failures require buying food from another country
b)
a country buys tools from another country because it does not have the technology to make the tools
c)
doctors travel to another country to provide healthcare because there is a shortage of medically-trained professionals in that country
d)
all of these
29.
A Company making, buying, and selling goods and services within a country.
a)
Domestic
b)
International
30.
Germany sends a shipment of cars to the United States.  This is an example of what type of business? 
a)
Domestic
b)
International
c)
Multinational
d)
Franchising
31.
If your main method of transportation is by boat and air travel for your business, which of the following should you consider?
a)
Geography of the country
b)
Culture & Customs of the people
c)
Economic Development
d)
Political/Legal Concerns
32.
If a business is looking to expand internationally and is  researching a countries literacy level, technology, and infrastructure the business is looking into a countries . .
a)
Cultural Influences
b)
Geography
c)
Legal Concerns
d)
Economic Development
33.
In order for Coca-Cola products to be bought and sold around the world, a country must have rights to a . .
a)
Franchise
b)
Business Ownership
c)
License
d)
Other
34.
What is the largest franchise in the world?
a)
KFC
b)
Subway
c)
Wendy's
d)
McDonald's
35.
Sony partnering up with The Shanghai Oriental Pearl Group to help increase sales of Playstation consoles is an example of a 
a)
Franchise
b)
Joint Venture
c)
Multinational Company
d)
License 
36.
When preparing for an international business meeting, what should be your number one priority? 
a)
Researching Culture & Customs
b)
Researching Properties
c)
Weather
d)
Food
37.
Multinational Companies such as Johnson & Johnson, and Coca-Cola usually have a
a)
 “Parent” Company Headquarters in a home country.
b)
Limited time offer of sellling products internationally.
c)
An exclusive deal with one country.
d)
Other
38.
When watching the McDonald's clip, what concept was the hardest for customers in China to adopt?
a)
American Cuisine
b)
Kiosk Machines
c)
Drive-thru
d)
To-go Counters 
39.
Australia's main export in 2014 to the UK was ...
a)
Beef
b)
Gold
c)
Pearls
d)
Silver
40.
Flowers should be given in uneven numbers and unwrapped in ...
a)
Korea
b)

Germany

c)
New Zealand
d)
China
41.
The difference between imports and exports is called ...
a)
Balance of Power
b)
Balance of Trade
c)
Trade Deficit
d)
Loss
42.
The rate at which prices for goods and services is rising and therefore the purchasing power of the currency is falling is ...
a)
Interest
b)
Unfair
c)
Inflation
d)
Appreciation
43.
A summary of an economy’s transaction with the rest of the world for a specified period of time.
a)
Summary
b)
Balance of Trade
c)
Statement
d)
Balance of Payments
44.
A strong Australian dollar means ...
a)
Imports will be cheaper
b)
Imports will be dearer
c)
Exports will be cheaper
d)
Exports will be dearer
45.
Which country has this flag?
a)
North Korea
b)
South Korea
c)
South Africa
d)
Iran
46.
Which product is the least exported to Germany?
a)
Gold
b)
Fruit and Nuts
c)

Coal

d)
Medical Instruments
47.
Australia's biggest export to China is ...
a)
Iron Ore
b)
Barley
c)
Copper
d)
Coal
48.
Which item was our most valuable export to Japan in 2014?
a)
Beef
b)
Coal
c)
Cheese
d)
Copper
49.

Outsourcing a part of or entire production and concentrating on marketing operations in international business is known as

a)

Licensing

b)

Contract Manufacturing

c)

Joint venture

50.

In which of the following modes of entry, does the domestic manufacturer give the right to use intellectual property such as patent and trademark to a manufacturer in a foreign country for a fee

a)

Licensing

b)

Contract manufacturing

c)

Joint venture

d)

None of these

51.

When two or more firms come together to create a new business entity that is legally separate and distinct from its parents it is known as

a)

contract manufacturing

b)

Franchising

c)

Joint ventures

d)

Licensing

52.

Which of the following is not an advantage of exporting?

a)

Limited presence in foreign markets

b)

Less investment requirements

53.

Which one of the following modes of entry permits greatest degree of control over overseas operations?

a)

Licensing/franchising

b)

Wholly owned subsidiary

c)

Contract manufacturing

d)

Joint venture

54.
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
55.

the following image shows which business activity

a)

international business

b)

domestic business

56.
All business activities needed to create, ship, and sell goods and services across national borders are considered to be 
a)
domestic business
b)
international business
c)
global dependency
d)
none of these
57.
All of the following are benefits of international business except
a)
expanded business opportunities
b)
increased sources of raw materials
c)
decreased competition
d)
improved political relationships
58.
Making, buying, and selling goods and services within a country is called
a)
international business
b)
global dependency
c)
domestic business
d)
none of these
59.
International business involves the buying and selling of products or services between countries.
a)
True
b)
False
60.
An example of domestic business is when a person living in Canada buys  a product made in Germany.
a)
True
b)
False
61.
A Company making, buying, and selling goods and services within a country.
a)
Domestic
b)
International
62.
If your main method of transportation is by boat and air travel for your business, which of the following should you consider?
a)
Geography of the country
b)
Culture & Customs of the people
c)
Economic Development
d)
Political/Legal Concerns
63.
What is the largest franchise in the world?
a)
KFC
b)
Subway
c)
Wendy's
d)
McDonald's
64.

The NIKKEI Stock Market is located in this country.

a)

Singapore

b)

Japan

c)

Vietnam

65.

This country is the largest source of immigration to the United States.

a)

Canada

b)

Columbia

c)

Mexico

66.

This country has been the birthplace of many innovative companies such as: Electrolux, H&M, IKEA, Spotify, and Skype.

a)

Sweden

b)

Switzerland

c)

Germany

67.

The ASEAN Free Trade Area was signed in this country in 1992. Further, this country is known for its highly developed free-market economy.-

a)

Vietnam

b)

Singapore

c)

China

68.

This country’s largest companies include: Adidas, Bayer, and BMW.

a)

Germany

b)

Mexico

c)

France

69.

This country is known for having the largest international tourist arrivals.

a)

France

b)

Switzerland

c)

Spain

70.

This country’s economy is dependent on oil and their economy is the largest in the Arab world.

a)

Saudi Arabia

b)

South Korea

c)

Russia

71.

Rapid integration and connection between countries is known as

a)

Liberalisation

b)

Investment

c)

Globalisation

d)

Interrelation

72.

Globalisation has been of advantage to

a)

all the people

b)

the poorer section of the society

c)

the richer section of the society

d)

none of the above.

73.

Which one of the following Indian industries has been hit hard by globalisation?

a)

soft drinks

b)

automobiles

c)

electronics

d)

toy

74.

World Trade Organisation (WTO) was started at the initiative of which one of the following group of countries?

a)

Developed

b)

Developing

c)

Under Developed

d)

Poor

75.

Which of the following organisations lays stress on liberalisation of foreign trade and foreign investment?

a)

International Labour Organisation

b)

International Monetary Fund

c)

World Health Organisation

d)

World Trade Organisation

76.

Investments made by MNCs are termed as:

a)

Indigenous investment

b)

Foreign investment

c)

Entrepreneur’s investment

d)

None of the above

77.

Which of the following is not a feature of a Multi-National Company?

a)

It owns/controls production in more than one nation.

b)

It employs labour only from its own country.

c)

It organises production in complex ways.

d)

It sets up factories where it is close to the marke

78.

Tax on imports is an example of:

a)

Terms of Trade

b)

Collateral

c)

Trade Barriers

d)

Foreign Trade

79.

Which one of the following is not characteristic of‘ Special Economic Zone’?

a)

They do not have to pay taxes at all

b)

Government has allowed flexibility in labour laws.

c)

They have world class facilities.

d)

Government allows flexibiilty of labour laws

80.

Fair Globalisation in WTO is a fight against

a)

Dissimilarity in interests

b)

Domination of developed countries

c)

Implementation of tax

d)

Developing countries

81.

‘The impact of Globalisation has not been fair.’ Who among the following people have not benefitted from globalisation?

a)

Well off consumers

b)

Skilled and educated producers

c)

Small producers and workers

d)

Large wealthy producers

82.

“MNCs keep in mind certain factors before setting up production”. Identify the incorrect option from the choices given below

a)

Availability of cheap skilled and unskilled labour

b)

Proximity to markets

c)

Presence of a large number of local competitors

d)

Favourable government policies

83.

A large company that owns or controls production in more than one nation is nation is called a-

a)

Multinational Corporation

b)

Self Help Group

c)

Global Companies

d)

Non Government Organisation

84.

Which of the following organisations lays stress on liberalisation of foreign trade and foreign investment?

a)

International Labour Organisation

b)

International Monetary Fund

c)

World Health Organisation

d)

World Trade Organisation

85.

Which of the following is not a feature of a Multi-National Company?

a)

It owns/controls production in more than one nation.

b)

It employs labour only from its own country.

c)

It organises production in complex ways.

d)

It sets up factories where it is close to the marke

86.

“MNCs keep in mind certain factors before setting up production”. Identify the incorrect option from the choices given below

a)

Availability of cheap skilled and unskilled labour

b)

Proximity to markets

c)

Presence of a large number of local competitors

d)

Favourable government policies

87.

MNCs normally take decisions regarding the location of production units on the basis of following factors:

a)

Production units should be close to the markets

b)

Availability of skilled and unskilled labour at low cost

c)

Assured availability of raw materials

d)

Government policies that can look after their decisions

88.

SEZ stands for

a)

Special Economic Package

b)

Special Economic Zone

c)

Special Ecology Zone

89.

Companies who set up production units in the Special Economic Zones (SEZs) do not have to pay taxes for an initial period of:

a)

10 years

b)

3 years

c)

5 years

d)

8 years

90.

In which year did the government decide to remove barriers on foreign trade and investment in India?

a)

1990

b)

1980

c)

1991

d)

1999

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