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IBM

Total questions: 100

Worksheet time: 59mins

Name
Class
Date
1.

Q:- 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 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

3.

Q:-3 All business activities needed to create, ship, and sell goods and services across national borders are considered to be

a)

domestic business

b)

global dependency

c)

international business

d)

none of these

4.

Q:-4 International business involves the buying and selling of products or services between countries.

a)

True

b)

FALSE

5.

Q;-5 An example of domestic business is when a person living in Canada buys a product made in Germany.

a)

True

b)

False

6.

Q:-6 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

7.

Q:7 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

8.

Q:8 Which of the following would constitute as a technological barrier to trade?

a)

Product standards

b)

A tarrif

c)

An import quota

d)

Licenses

9.

Q:-9 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

10.

Q:-10 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

11.

Q:-11 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

12.

Q:-13 What is the largest franchise in the world?

a)

KFC

b)

Subway

c)

Wendy's

d)

McDonald's

13.

Business activities that occur between two or more countries.

a)

International management

b)

Human Resources

c)

International trade

14.

Company headquarters is called the

a)

Host country

b)

Just a country

c)

Parent firm

d)

Strategic alliances

15.

The value of one's country's currency expressed in the currency of another country

a)

Exporting

b)

Exchange rate

c)

Sanctions

d)

Quota

16.

All international transactions are recorded in an accounting statement

a)

Balance of payments

b)

Current account

c)

Capital account

d)

Exporting

17.

What is important about managing a business

a)

You are the leader

b)

People will you judge how you do

c)

People will be looking up to you for leadership

d)

Its a job

18.

Business Management can be done

a)

by anyone

b)

anyone who qualifies

c)

your mom

d)

you

19.

what is the most important aspect of a business manager

a)

leadership

b)

creativity

c)

originality

d)

careness

20.

Business managing is easy to do

a)

True

b)

False

21.

You need to find any loser off the streets you manage your business

a)

True

b)

False

22.

The five steps in strategic planning are: External analysis, __________ analysis, Mission, Goals, ___________.

a)

Internal; Strategies

b)

Other; Plans

c)

International; Sequences

d)

Internal; Strategery

23.

A planning tool that helps a business to not over spend.

a)

Schedule

b)

Budget

c)

Policy

d)

Procedure

24.

A business plan is used to

a)

To think through your business ideas

b)

To find investors in your business

c)

To develop a marketing strategy

d)

To do market research

25.

The interconnection of the world today is often referred to as

a)

Nationalism

b)

Communism

c)

Globalization

d)

Isolationism

26.

This has potential to spread infectious diseases

a)

Communism

b)

Capitalism

c)

Isolationism

d)

Globalization

27.

A negative side effect of globalization such as the spread of Covid-19 is caused by

a)

Improved sanitation resulting in resistant strains of viruses

b)

Accelerated transmission of viruses due to increased travel

c)

Health problems caused by decreased government funding

d)

Cultural movements that limit vaccinations for children

28.

The exchange of goods and services by sale or barter driven by the need for resources.

a)

Fair Trade

b)

Globalization

c)

Trade

d)

Standard of Living

29.

Sending goods to another country to sell.

a)

import

b)

export

30.

A policy in which a nation does not try to limit imports or exports by enacting tariffs (taxes on imports) or subsidies (taxes on exports).

a)

Free Trade

b)

Trade

c)

Goods

d)

Supply and Demand

31.

three-country trade agreement negotiated by the governments of Canada, Mexico, and the United States

a)

The UN

b)

NAFTA

c)

NATO

d)

IMF

32.

Which strategy is the most suitable for the firm that face both high cost pressures and high pressures for local responsiveness

a)

Global standardization

b)

Localization

c)

Transnational

d)

International

33.

Which strategy is make sense when the firm faces strong pressures for cost reductions and demands for local responsiveness are minimal?

a)

Global standardization strategy

b)

Localization strategy

c)

Transnational strategy

d)

International strategy

34.

Which of the following is NOT the impact of internationalization?

a)

Low quality of rogue providers

b)

Commercialization of higher education

c)

Promising collaborative research

d)

Selling local goods in local market

35.

Internationalization is a term that is commonly used to discuss the internationalization of ____________.

a)

Primary education

b)

Secondary education

c)

Tertiary education

d)

International education

36.

Which of the following is NOT the impact of globalization?

a)

Having internet in school

b)

Attending lectures by a British professor in a university in Malaysia

c)

Selling local products in the global market

d)

Decreased the need for the internet

37.

Which of the following is NOT the risk of internationalization?

a)

Commercialization of higher education

b)

Low quality of rogue providers

c)

The distributions of the world’s wealth would be skewed

d)

The structure of the international programs may/may not be suitable

38.

Price in one country in relation to other currencies in the international exchange market is known as-

a)

equilibrium rate

b)

fixed exchange rate

c)

exchange rate

d)

flexible exchange rate

39.

Identify the most traded currency around the world.

a)

US Dollar

b)

Malaysian Ringgit

c)

Euro

d)

Yuan

40.

Select all of the following that will be impacted by a change in exchange rates:

a)

Prices of exports

b)

Costs of imports

c)

Competiveness

d)

None of the answers

41.

When two or more people come together and set up a new business, it is called a joint venture

a)

True

b)

False

42.

One disadvantage of a joint venture is

a)

Low cost

b)

Both businesses does not agree in decision making

c)

Both businesses will bring more knowledge and skills into the new project

43.

An advantage of a joint venture is the business poses low risk

a)

True

b)

False

44.

Liberalisation is a process whereby a state lifts (a)   on some private individual activities

45.

liberalisation is a process occur when something which is used to be banned is no longer banned or when government regulations of relaxed

a)

True

b)

False

46.

Economic liberalisation is the reduction of state involvement in the (a)  

47.

Give any one disadvantage of liberazation.

4 lines
48.

Economic liberalisation also often involves reductions of

a)

taxes

b)

Social security number

c)

Unemployment

d)

All of the Above

49.

The term liberalisation has its origin in the political ideology 'liberalism ' which to its form by early 19th century

a)

Right

b)

Wrong

50.

Is liberalisation good to enhance Gross Domestic product?

a)

True

b)

False

51.

Give any two impact of liberalisation

4 lines
52.

In 2006, the United Nations Security Council unanimously

adopted a resolution to restrict the export to and the import from Iran on certain items and technology potentially related to nuclear weapons. This is a(n)...

a)

Tariff

b)

Quota

c)

Embargo

53.
A barrier is meant to 
a)
encourage the flow of trade
b)
block or slow down trade
c)
make people obey the government 
54.
Trade is the 
a)
voluntary exchange of goods/services and benefits both sides 
b)
required exchange of goods/services 
55.
Trade is the 
a)
voluntary exchange of goods/services and benefits both sides 
b)
required exchange of goods/services 
56.
When a country refuses to trade with others it is participating in a trade ______
a)
tariff
b)
embargo
c)
quota
57.
A tariff is a ______
a)
tax placed on imported goods
b)
a limit placed on imported goods
c)
a stop of all trade 
58.
Why would a country impose a tariff or quota on imported goods?
a)
to raise the price of imported goods and encourage people to buy local
b)
to raise the price of imported goods to help other countries make more money
c)
to be mean!
59.

The European Union prohibits the importing of meat products from animals treated with growth- promoting hormones.

a)

embargo

b)

tariff

c)

subsidy

d)

quota

60.
Free trade means 
a)
the countries use the same currency
b)
No trade barriers
c)
there is a quota on some goods
d)
trade is quick and easy
61.

Which of these is the largest free trade agreement?

a)

OPEC

b)

NAFTA

c)

TINSTAAFL

d)

WTO

62.
Any activity which slows or outright blocks the free exchange of goods and services between nations.
a)
Voluntary Trade
b)
Specialization
c)
Currency Exchange
d)
Trade Barrier
63.
What is the primary purpose NAFTA?
a)
To reduce trade barriers among the US, Canada, and Mexico
b)
To reduce trade barriers among Central America and Mexico
c)
To reduce trade barriers among Brazil and Mexico
d)
To encourage free trade between the US, Europe, and Canada
64.

refers to the unrestricted flow of goods, services, and productive resources between countries

a)

free trade

b)

balance of trade

c)

trade surplus

d)

trade deficit

65.

An international trade treaty designed to encourage worldwide trade among its members

a)

NAFTA (North American Free Trade Agreement)

b)

GATT (General Agreement on Tariffs and Trade)

c)

WTO (World Trade Organization)

66.
An area where labor laws and environmental laws are relaxed and taxes are lowered
a)
Special Economic Zone (SEZ)
b)
Export Processing Zone (EPZ)
c)
Free Trade Zone (FTZ)
d)
Island of Development
67.
Location factors that deal with the cost of land, labor and capital are called:
a)
Site Factors
b)
Situation Factors
c)
Economic Factors
d)
Demographic Factors
68.
What is primarily responsible for the new international division of labor?
a)
Outsourcing
b)
Situation Factors
c)
Post-Fordist Philosophy
d)
Land Prices
69.

When transnational corporations allocate production to another company/supplier, it is known as

a)

offshoring

b)

vertical integration

c)

right-to-work

d)

outsourcing

70.

It aim at improve the science education culture of the world,and preserving the world heritage

a)

UNESCO

b)

UNICEF

c)

WHO

d)

FAO

71.

It was founded on January 1st 1995 according to the General agreement on trade and tarrif.

a)

WHO

b)

FAO

c)

IMF

d)

WTO

72.

IBRD head office is at

a)

Washington

b)

Paris

c)

Newyork

d)

India

73.

WHO head office is at

a)

Nairobi

b)

Rome

c)

Paris

d)

Geneva

74.

Third important pillar of the World Trade

a)

IBRD

b)

IMF

c)

IDBI

d)

WTO

75.

When was World Bank established?

a)

Dec 1945

b)

Mar 1947

c)

Apr 1945

d)

Jan 1947

76.

Which of the following statement is NOT correct regarding the membership of the IMF?

a)

All member countries of the IMF are not sovereign states

b)

Nauru is the latest member of the IMF

c)

All "member countries" of the IMF are members of the United Nations

d)

Currently its membership is 189

77.

Which of the following is not the objective of the IMF?

a)

To ensure balanced international trade

b)

To ensure exchange rate stability

c)

To promote international monetary cooperation

d)

To provide loan to private sectors

78.

Which of the following currency is not included in the calculation of SDR value?

a)

INR

b)

Yen

c)

USD

d)

Pound

79.

Which of the following is known as the Paper Gold?

a)

Demand Draft

b)

USD

c)

SDR

d)

Pound

80.

Why World Bank was established?

a)

None below

b)

To improve the adverse Balance of Payment situation of the nonmember countries

c)

To reconstruct the economies damaged during the Second World War

d)

To promote the International Trade

81.

Why World Bank was established?

a)

None below

b)

To improve the adverse Balance of Payment situation of the nonmember countries

c)

To reconstruct the economies damaged during the Second World War

d)

To promote the International Trade

82.

Which of the following statement is correct?

a)

Every member country of the IMF automatically becomes the member of the World Bank

b)

The World Bank has 45 founder members

c)

India is not the founding member of the World Bank

d)

IMF is the part of World Bank group

83.

Currently how many members are in the IBRD?

a)

198

b)

190

c)

193

d)

189

84.

Currently how many members are in the IBRD?

a)

198

b)

190

c)

193

d)

189

85.

Where is the headquarters of BRICS New Development Bank situated?

a)

Beijing, China

b)

Moscow, Russia

c)

Cape Town, South Africa

d)

Shanghai, China

86.

Which of the following statement is not true about the WTO?

a)

WTO is a permanent organisation

b)

Uruguay round gave the birth to the WTO

c)

WTO was officially constituted on 1 January 1991.

d)

Ministerial Conference is the highest policy making body of the WTO

87.

Which of the following statement is not true about the WTO?

a)

WTO is a permanent organisation

b)

Uruguay round gave the birth to the WTO

c)

WTO was officially constituted on 1 January 1991.

d)

Ministerial Conference is the highest policy making body of the WTO

88.
If I am better at all types of production, I have the ______ in all forms of production.
a)
Comparative advantage
b)
Specialization
c)
Absolute advantage
d)
developed nation
89.
This trade barrier limits the number of products that can be brought into a country.
a)
Tariff
b)
Quota
c)
Embargo
d)
Subsidy
90.
If nations limit trade in of clothing who will benefit?
a)
Domestic Consumers of clothing
b)
Domestic producers of clothing
c)
Foreign Producers of clothing 
d)
department stores who sell clothing
91.
Tariffs and Quotas can benefit nations imposing them by...
a)
Raising revenue
b)
increasing variety of goods
c)
lowering prices
d)
increasing consumption 
92.
Tariffs and Quotas can benefit nations imposing them by...
a)
Raising revenue
b)
increasing variety of goods
c)
lowering prices
d)
increasing consumption 
93.

Which term means actively looking for qualified employees?

a)

background check

b)

recruitment

c)

human resources management

d)

meeting staffing needs

94.

Which is usually NOT included in a job description?

a)

Salary

b)

Job duties

c)

Qualifications

d)

Conditions

95.

Which term refers to the teaching of several employees in a classroom setting?

a)

on-the-job training

b)

job rotation

c)

group training

d)

orientation

96.

Recruitment is a negative process whereas selection is a positive one

a)

The above statement is correct

b)

It should be the other way round

c)

It could be both

d)

It depends on the profile for which a company hires

97.

Which aptly describes the core functions of HR in the correct sequence

a)

Hire, Attain, Train

b)

Train, Hire, Retain

c)

Hire, Attain, Retain

d)

Hire, Train, Retain

98.

_____________ is a process that aims at rejecting unsuitable candidates.

a)

job Training

b)

Job Evaluation

c)

Selection

d)

Recruitment

99.

Placing the right man for the right job is an example of _____________

a)

Jo Description

b)

Job Specification

c)

Job Analysis

d)

Job Portfolio

100.
To focus on producing one thing to improve productivity is known as:
a)
Specialization
b)
International trade
c)
Absolute Advantage
d)
Supply and Demand

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