WorksheetsFinance & Business Test Sem1
Total questions: 38
Worksheet time: 22mins
What type of economy did both China and Cuba originally follow?
Centrally planned economy
Market economy
Traditional economy
Mixed economy
Who makes most economic decisions in a centrally planned economy?
Private companies
Foreign investors
The government
Consumers
Which country still has strong government control over most of its economy?
N.Korea
Italy
Singapore
USA
Why is Japan's economy considered more open than Cuba's?
Cuba has more factories
Japan has no government involvement
Japan allows more private businesses
Cuba has a stronger currency
Why might businesses prefer to invest in China over Cuba?
Cuba uses more robots
China allows more private ownership
China has fewer workers
Cuba has a better climate
A British tourist exchanges £1,000 at the rate of 1 GBP = 1.25 USD. How many dollars will they get?
$1,250
$1,500
$1,000
$750
A Japanese company is importing cars from Germany. The EUR/JPY exchange rate increases from 130 to 135. What happens to the cost of German cars in yen?
Becomes more expensive
Depends on tariffs
Becomes cheaper
Stays the same
An American company imports electronics from Japan. If the USD/JPY rate drops from 110 to 100, what is the effect?
No effect
US exports increase
Japanese products are more expensive
Japanese products are cheaper
Why do countries use different currencies?
So people can travel easily
To control their own economy
Because they don't like other countries
To make shopping easier worldwide
Why is Canadian dollar used in Toronto?
It is Canada's official currency
It's more valuable than Thai baht
Stores choose it randomly
It's the most beautiful currency
If the exchange rate for USD to EUR increases from 0.85 to 0.90, what is the impact on the cost of European goods in the US?
Becomes cheaper
Depends on shipping costs
Stays the same
Becomes more expensive
A South Korean company exports textiles to the US. If the KRW/USD exchange rate drops from 1,200 to 1,150, how does this affect the price of textiles in the US?
US imports decrease
Textiles become more expensive
Textiles become cheaper
No effect
What is a primary reason for the existence of foreign exchange markets?
To limit foreign investments
To facilitate international trade
To control inflation
To stabilize local currencies
If a Brazilian company exports coffee to Europe and the BRL/EUR exchange rate increases from 5.0 to 5.5, how does this impact the price of coffee in Europe?
No effect
Coffee becomes cheaper
Coffee becomes more expensive
European imports increase
In a mixed economy, who primarily influences economic decisions?
Only the government
Only consumers
Only private companies
Both the government and private companies
If the exchange rate for GBP to AUD decreases from 1.80 to 1.70, what is the effect on the cost of Australian goods in the UK?
Depends on local taxes
Becomes more expensive
Becomes cheaper
No effect
How does a strong currency affect a country's exports?
No effect on exports
Exports increase significantly
Exports become cheaper
Exports become more expensive
What is the primary function of a central bank in a mixed economy?
To manage foreign exchange
To set prices for goods
To regulate private companies
To control inflation
If the exchange rate for CAD to JPY increases from 80 to 85, what happens to the cost of Japanese goods in Canada?
No effect
Depends on local demand
Becomes more expensive
Becomes cheaper
Which of the following is a disadvantage of a centrally planned economy?
Efficient resource allocation
High levels of consumer choice
Rapid economic growth
None of the above
Which UNESCO site is known for its well-preserved Ming and Qing dynasty architecture in Beijing?
The Summer Palace
The Forbidden City
The Temple of Heaven
The Ming Tombs
How does the growth of tourism impact local entrepreneurship?
It discourages local businesses
It limits business diversity
It creates opportunities for local entrepreneurs
It focuses only on large corporations
How can a Thai entrepreneur effectively attract tourists to purchase skateboards?
By offering skateboarding lessons and rental services
By selling only high-end professional skateboards
By providing availability for online shopping
By promoting local skate culture and community
What kind of events can local businesses influence a tourist's decision to purchase a skateboard while traveling?
Free skate lessons and workshops
Sales events only for Chinese nationals
Events focusing on extreme sports
Professional skateboard competition
How can the 'butterfly effect' impact the success or failure of a newly opened café business?
A single bad review scares away future customers
Buying expensive coffee machines guarantees success
The color of the walls decides the menu prices
The coffee tastes better automatically
Your burger booth runs out of napkins one day. What’s the worst-case butterfly effect?
Customers leave bad reviews online
You save money on supplies
The mayor visits your booth
Birds steal your burgers
What if you run a 'Free Fry Friday' promotion and you offer free samples at a food festival. What’s the possible butterfly effect?
Samples attract crowds, leading to go viral
You go bankrupt from giving away fries
All other restaurants copy you the next day
Potatoes become extinct
What will happen if you accidentally overcharge a customer by ฿500? They might _______.
Sue your booth for millions
Never notice or care
Post about it online, hurting your reputation
Demand free burgers for life
Large hotel chains like Hilton or Marriott help their franchise owners by giving them many support systems. Which of these helps the most when starting?
Free building construction
Training programs and rules to follow
Permission to change room prices daily
No need to clean rooms
Why do most entrepreneurs prefer a Starbucks franchise over an independent café?
To operate without any initial investment
To use the power of brand and customer base
To eliminate the need for staff training
To avoid all business regulations
Why do banks feel more comfortable giving loans to McDonald's franchise owners compared to small burger shops?
McDonald's has a history of success
Small shops never pay back loans
Franchises don't need to pay back loans
Banks own part of McDonald's
Why would people choose to open a Nike franchise store instead of their own sports shop?
They don’t need to pay any money upfront
Customers already trust the brand
They can design their own sports shoes
Nike lets them sell fake products
Why do banks prefer giving loans to a Zara franchise over a small local clothing store?
Zara has a history of success, making it safer
Small stores never make money
Zara franchise owners don’t need to repay loans
Banks own part of Zara
Which type of tourism involves professionals traveling to another country to work temporarily for international companies like Samsung or Toyota to gain practical work experience?
Educational Tourism
Religious Tourism
Dark Tourism
All of these
What type of tourism is Angkor Wat, Cambodia?
Medical tourism
Cultural tourism
Religious tourism
Extreme tourism
Which of the following is NOT a part of tourism industry?
Hotels and motels
Car rental companies
Restaurants
Grocery store
What type of activities does 'Dark Tourism' offer?
Tourists visit attractions only at night
Tourists visit theme parks with scary train rides
Tourists visit haunted houses
Tourists visit battlefields, man-made disasters and memorials
Which of the following site is associated with dark tourism?
Pompeii, Italy
Hỏa Lò Prison, Vietnam
Choeung Ek, Cambodia
All of these
