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ONLINE TEST :1 INTERNATIONAL BUSINESS

Total questions: 42

Worksheet time: 42mins

Name
Class
Date
1.
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
2.
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
3.
An example of global dependency is when products are produced and used in the same country.
a)
True
b)
False
4.
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
5.
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
6.
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
7.
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
8.
What is the largest franchise in the world?
a)
KFC
b)
Subway
c)
Wendy's
d)
McDonald's
9.
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 
10.
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
11.
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
12.
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
13.
___________ is a tax that a government places on certain imported products
a)
Tariff
b)
Embargo 
c)
Quota
d)
Deal
14.
Stopping the export and import of a product is known as?
a)
Tariff
b)
Embargo
c)
Quota
d)
Deal
15.
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
16.
__________________ reduces trade barriers and encourages trade between countries.
a)
Free-trade zones
b)
Free-trade agreements
c)
non-tariff alliances
d)
Common markets
17.
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
18.
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
19.
Which one of these is not part of a '5C' analysis?
a)
Customers
b)
Curry
c)
Company
d)
Climate
20.
As an UK company, starting a phone business in India, which of the following cultural barriers might you face?
a)
Market entry
b)
Transaction complexity
c)
Ignorance of emerging markets
d)
All of these
21.
Why do workers benefit from international trade?
a)
They have more options as consumers
b)
Real wages have risen
c)
Export wages have risen
d)
Trade creates greater employment opportunity
22.
Which of the following would constitute as a technological barrier to trade?
a)
Product standards
b)
A tarrif
c)
An import quota
d)
Licenses
23.

The certificate which specifies the country in which the goods are being produced is known as (a)   .

24.

General agreement for Tariffs & Trade was transformed into (a)   on January 1, 1995.

25.

A particular number that an export firm needs to have is known as -

a)

(a) IEC Number

b)

(b) IFC Number

c)

(c) IIC Number

d)

(d) IFC Code

26.

"The goods were not loaded on the ship as they did not get the custom clearance due to lack of one of the main document."Identify the document which was required among the following:-

a)

(a) Bill of clearance

b)

(b) Custom bill

c)

(c) Shipping bill

d)

(d) Bill of exchange

27.

Identify the first step in the export procedure-

a)

(a) Receipt of enquiry

b)

(b) export licence

c)

(c) intent

d)

(d) production of goods

28.

Which of the following was formed for looking after the promotion of free and fair trade among nations?

a)

a. International Monetary Fund

b)

b. World Bank

c)

c. World Trade Organisation

d)

d. General Agreement for Tariffs and Trade

29.
Australia's biggest export to China is ...
a)
Iron Ore
b)
Barley
c)
Copper
d)
Coal
30.
The item imported the most from Malaysia in 2014 was ...
a)
Computers
b)
Petroleum
c)
Furniture
d)
TV's
31.
Which country has this flag?
a)
China
b)
Cook Islands
c)
Malaysia
d)
Sri Lanka
32.

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

33.

the following image shows which business activity

a)

international business

b)

domestic business

34.

What is an LC?

a)

Letter of Commitment

b)

Letter of Consent

c)

Letter of Credit

d)

Letter of Conversation

35.
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
36.

Which of the following is an example of globalization?

a)

A business that has multiple branches

b)

A business that has multiple owners

c)

A business that has its headquarters and factories in different countries

37.

Which stage of going global includes companies moving their production of a specific product to an inexpensive location?

a)

Value chain re-engineering

b)

Creation of new markets

c)

Value chain disaggregation

d)

Product specialization

38.

Which of the following are cultural aspects that affect global marketing? Choose all that apply.

a)

Language

b)

Product specialization

c)

Time & Punctuality

d)

Business Norms

39.

This Japanese company has a lot of quality methods

a)

Samsung

b)

Nokia

c)

Toyota

40.

Global expansion allows firms to achieve all of the following except _______________________.

a)

A) minimize returns by failing to capture skills developed in foreign countries

b)

B) realize location economies by dispersing value creation activities on the optimal location

c)

C) realize cost economies from experience effects generated by serving a larger market from a central location

d)

D) expand the market for their domestic product offerings by selling those products in international markets

41.

A nation's transportation, communication, and utility systems are part of its ____________.

a)

scientific resources

b)

natural resources

c)

infrastructure

d)

human resources

42.

An embargo is which of the following?

a)

a ban on imported goods

b)

a limit on imported goods

c)

a tax on imported goods

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