WorksheetsBIBM101_2.2
Total questions: 14
Worksheet time: 7mins
Which of the following best describes the U.S. in the world economy?
A. A low-cost manufacturing center
B. The world's largest consumer market
C. A small open economy
D. A resource-scarce economy
Which region is known for high purchasing power, advanced infrastructure, and significant global influence?
Southeast Asia
Western Europe
Central Africa
Central Asia
Which of the following is NOT a typical challenge when entering foreign markets?
Political instability
Legal and regulatory differences
Currency fluctuation
Guaranteed protection by host governments
Which of the following best describes a “keiretsu” in Japan?
A government body for economic planning
A network of interlinked companies and banks
A form of foreign currency exchange control
A type of consumer cooperative
Which term describes a company's ability to operate across national borders and adapt to local markets?
Comparative advantage
Multinational flexibility
Resource nationalism
Corporate concentration
11. The Northwest Passage has become relevant in recent years because:
Melting Arctic ice has made it more navigable for shipping routes.
It has become a popular tourist destination.
It is now a major fishing area.
It is the site of new oil discoveries.
Which countries are members of the Arctic Council?
China, India, Brazil
Germany, France, Spain
Canada, Russia, U.S., Denmark, Norway, Sweden, Finland, Iceland
Mexico, Chile, Argentina
What is the main concern around Arctic trade routes and resources?
Too few natural resources
Lack of port access
Territorial claims, environmental risks, and military competition
Lack of interest from Asia
According to the World Bank, which of the following qualifies as a high-income economy?
A country with GDP per capita under $1,000
A country with GNI per capita over $12,476
A country with no foreign debt
A country with a large agricultural sector
Why are sogo shosha important in Japan’s economy?
They provide universal banking services
They coordinate global trade for keiretsu groups
They develop only high-tech products
They manage government policy directly
Which of the following statements best explains why income levels matter in international business?
They determine the political stability of a country.
They indicate consumers’ purchasing power and infrastructure quality.
They show the number of foreign firms in the country.
They measure the education level of the workforce.
What is the key difference between GDP and GNI?
GDP measures production by foreign firms; GNI excludes them.
GNI includes income from abroad, while GDP measures domestic production.
GDP is adjusted for inflation; GNI is not.
They are identical in modern economic analysis.
The Mittelstand in Germany refers to:
Large state-owned enterprises.
Small and medium-sized firms focused on innovation and exports.
Government-sponsored trade organizations.
The country’s stock market.
The Four Tigers (South Korea, Taiwan, Singapore, and Hong Kong) are known for:
High dependence on natural resources.
Rapid industrialization and export-driven economies.
Large domestic markets.
Reliance on agricultural exports.
