Worksheets3-1: International Business Basics
Total questions: 13
Worksheet time: 20mins
Which of the following would be an example of international business?
A farmer in Iowa using U.S produced equipment
A sales staff in South Carolina representing a foreign producer.
A restaurant in Chicago offering Asian menu items.
A retail store in Oregon selling craft items from local artists.
When a country's imports exceed its exports, this is a trade
surplus
deficit
exchange
balance
The value of a country's currency is likely to decline as a result of
higher inflation
lower interest rates
a trade surplus
a favorable balance of payments
Items bought from other countries are
Imports
Exports
Balance of trade
Exchange rate
Which type of business happens when buying and selling crosses borders
Domestic business
International business
None ya business
True or False:
Without foreign trade many of the things we buy would cost more or not be available
True
False
Goods and services sold to other countries are called
Imports
Exports
Balance of trade
Tariffs
The difference between a country's total exports and total imports is called
Balance of Trade
Balance of Payments
If a country exports more than it imports it has a
trade surplus
trade deficit
trade balance
trade wind
If a country imports more than it exports it has a
Trade surplus
Trade deficit
Trade balance
Trade wind
The difference between he amount of money that comes into a country and the amount of money that goes out of a country is called
Balance of Trade
Balance of Payments
Balance Beam
Balance the scales
What is the term for a tax placed on goods imported from other countries?
Tariff
Quota
Export
Subsidy
Which of the following best describes a trade surplus?
When a country's exports are less than its imports
When a country's exports are greater than its imports
When a country's exports equal its imports
When a country only imports goods
