This quiz works best with JavaScript enabled. Home > Cbse > Class 11 > Commerce > Business Studies > Class 11 Business Studies Chapter 10 International Business – Quiz 4 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 10 International Business Quiz 4 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The term "consignment" has different meanings in different regions. In Asian business contexts, it often refers to ..... ? A) Goods sent for sale with payment after sale. B) Inventory management and storage. C) International shipping documentation. D) Commission-based sales agreements. Show Answer Correct Answer: B) Inventory management and storage. 2. To lower labour costs A) Benefits. B) Limitations. C) All the above. D) None of the above. Show Answer Correct Answer: A) Benefits. 3. International business refers to exchange of A) Knowledge. B) Skills. C) Resources. D) All the above. Show Answer Correct Answer: D) All the above. 4. Which cultural element is most likely to vary significantly between China and the United States? A) Religion. B) Language. C) Aesthetics. D) Social Organization. Show Answer Correct Answer: D) Social Organization. 5. The first phase of globalization started around 1870 and ended with ..... A) In 1913 when GDP was High. B) World War II. C) World War I. D) The Establishment of GATT. Show Answer Correct Answer: C) World War I. 6. When the value of import is greater than the value of export, it is called ..... A) Trade deficit. B) Trade surplus. C) All the above. D) None of the above. Show Answer Correct Answer: A) Trade deficit. 7. Which element of culture includes the traditional practices, etiquette, and everyday behaviours that are considered appropriate in each society? A) Manners and Customs. B) Aesthetics. C) Social Organization. D) Material Culture. Show Answer Correct Answer: A) Manners and Customs. 8. Which of the following is NOT a form of regional economic integration? A) Customs Union. B) Singular Market. C) Common Market. D) Economic Union. Show Answer Correct Answer: B) Singular Market. 9. Currently, Mexico is ranked ..... in terms of auto exports A) 1. B) 3. C) 5. D) 4. Show Answer Correct Answer: D) 4. 10. A potential drawback of MNCs for the Host Country is 'Crowding Out.' This refers to: A) MNCs employing too many people. B) MNCs taking up too much physical land. C) Local small businesses failing because they cannot compete with the MNC. D) The government running out of tax revenue. Show Answer Correct Answer: C) Local small businesses failing because they cannot compete with the MNC. 11. The item imported the most from Malaysia in 2014 was ..... A) Computers. B) TV's. C) Petroleum. D) Furniture. Show Answer Correct Answer: C) Petroleum. 12. To have import greater than export A) Trade deficit. B) Trade proficite. C) All the above. D) None of the above. Show Answer Correct Answer: A) Trade deficit. 13. How many steps are there in the process of global strategic planning? A) 8. B) 7. C) 6. D) 5. Show Answer Correct Answer: B) 7. 14. Political system in which individuals govern without the support of the people, tightly control people's lives, and do not tolerate opposing viewpoints is a ..... system A) Totalitarian. B) Democratic. C) Anarchist. D) Unjust. Show Answer Correct Answer: A) Totalitarian. 15. Goods transported in bulk by truck, train, ship, or aircraft. A) Freight. B) Cargo. C) Transit. D) Haulage. Show Answer Correct Answer: A) Freight. 16. Which is the most important document used at customs A) Proforma invoice. B) Certificate of origin. C) Commercial invoice. D) None of the above. Show Answer Correct Answer: C) Commercial invoice. 17. How do tariffs and trade barriers affect international marketing strategies? A) International marketing strategies remain unchanged regardless of tariffs. B) Tariffs and trade barriers necessitate adjustments in pricing, distribution, and promotional strategies in international marketing. C) Trade barriers have no impact on pricing strategies. D) Tariffs only affect domestic marketing strategies. Show Answer Correct Answer: B) Tariffs and trade barriers necessitate adjustments in pricing, distribution, and promotional strategies in international marketing. 18. In PESTEL analysis, 'Inflation Rates' and 'Exchange Rates' fall under which category? A) Social. B) Political. C) Technological. D) Economic. Show Answer Correct Answer: D) Economic. 19. What is the term for a tax placed on goods imported from other countries? A) Quota. B) Tariff. C) Export. D) Subsidy. Show Answer Correct Answer: B) Tariff. 20. Which business function is influenced by cultural perceptions of leadership and management styles? A) Human Resources. B) Marketing. C) Production. D) Accounting and Finance. Show Answer Correct Answer: A) Human Resources. 21. How can cultural differences impact business negotiations? A) Cultural differences only impact personal relationships, not business negotiations. B) All cultures negotiate in the same way regardless of background. C) Cultural differences have no effect on negotiation outcomes. D) Cultural differences can lead to misunderstandings, affect communication styles, influence decision-making, and alter negotiation tactics. Show Answer Correct Answer: D) Cultural differences can lead to misunderstandings, affect communication styles, influence decision-making, and alter negotiation tactics. 22. ..... ..... exists when a country can produce a good or service at a lower cost than any other country. Think of South America and their coffee. A) Partial advantage. B) Total advantage. C) Comparative advantage. D) Absolute advantage. Show Answer Correct Answer: D) Absolute advantage. 23. Which international organization focuses on promoting cooperation and economic development among countries in the Asia-Pacific region? A) NAFTA. B) EU. C) ASEAN. D) APEC. Show Answer Correct Answer: D) APEC. 24. THIS WAS POSTULATED BY DAVID RICARDO A) THEORY OF ABSOLUTE ADVANTAGE. B) THEORY OF COMPARATIVE ADVANTAGE. C) All the above. D) None of the above. Show Answer Correct Answer: B) THEORY OF COMPARATIVE ADVANTAGE. 25. What are services? A) Physical Products. B) Money. C) Provided by people and can be touched. D) Provided by people and can not be touched. Show Answer Correct Answer: D) Provided by people and can not be touched. 26. In which country can you order a Cottage Cheese & Radish McMuffin in McDonalds? A) Poland. B) Norway. C) Mexico. D) Peru. Show Answer Correct Answer: A) Poland. 27. The only country in South America that speaks Portuguese. A) Chili. B) Venezuela. C) Brazil. D) None of the above. Show Answer Correct Answer: C) Brazil. 28. Hofstede's cultural dimensions refer to: A) A framework for understanding cultural differences across countries. B) A set of economic indicators for global markets. C) A theory about language development in societies. D) A model for international trade policies. Show Answer Correct Answer: A) A framework for understanding cultural differences across countries. 29. What are the cultural challenges faced by businesses in international trade? A) Political stability. B) Technological advancements. C) Currency exchange rates. D) Cultural differences, language barriers, negotiation styles, and ethical practices. Show Answer Correct Answer: D) Cultural differences, language barriers, negotiation styles, and ethical practices. 30. When the opportunity cost of producing a good/service is lower than that of a trading partner, a country is said to have a/an A) Absolute advantage. B) Comparative advantage. C) Transfer price advantage. D) Overall advantage. Show Answer Correct Answer: B) Comparative advantage. 31. Which classic Christmas movie was a box-office flop but became famous thanks to TV reruns? A) Home Alone. B) It's a Wonderful Life. C) The Polar Express. D) Love Actually. Show Answer Correct Answer: B) It's a Wonderful Life. 32. What does International Business primarily involve? A) Local market sales. B) Trade within a region. C) Cross-border trade of goods, services, and capital. D) Internet marketing. Show Answer Correct Answer: C) Cross-border trade of goods, services, and capital. 33. Theory of Absolute advantage was developed by A) Adam Smith. B) David Ricardo. C) Mr Preston. D) Michael Porter. Show Answer Correct Answer: A) Adam Smith. 34. Refers to the systematic reductions in production costs that have been observed to occur over the life of a product A) Core competencies. B) Value creation activities. C) Learning effects. D) Experience curve. E) Global web. Show Answer Correct Answer: D) Experience curve. 35. How can an international company protect itself against currency changes? A) Hedging (the use of futures, options, and/or currency-hedged funds. B) Diversification globally and investing in countries with conservative currency management. C) Transacting in your own currency, e.g. demand payment in US$. D) All of the above. Show Answer Correct Answer: D) All of the above. 36. Language, family, religion, customs, traditions, and food refer to which factor of the international business environment? A) Geographic. B) Economic. C) Political and legal. D) Cultural and social. Show Answer Correct Answer: D) Cultural and social. 37. What strategies can businesses employ to navigate foreign regulatory environments? A) Ignore local regulations and operate as usual. B) Conduct thorough research, engage local legal experts, and adapt business practices to comply with regulations. C) Only focus on domestic regulations. D) Rely on the home country's regulations to guide international operations. Show Answer Correct Answer: B) Conduct thorough research, engage local legal experts, and adapt business practices to comply with regulations. 38. Which of the following is a tariff? A) A discount on goods or services. B) An added tax on goods and services. C) A coupon on goods and services. D) A stop on goods and services. Show Answer Correct Answer: B) An added tax on goods and services. 39. What are the key elements of an effective international marketing strategy? A) Focus solely on social media marketing. B) Ignore local regulations and laws. C) Use a one-size-fits-all approach for all markets. D) Key elements include market research, cultural adaptation, marketing mix adaptation, compliance with regulations, and strategic partnerships. Show Answer Correct Answer: D) Key elements include market research, cultural adaptation, marketing mix adaptation, compliance with regulations, and strategic partnerships. 40. French managers are expected to have a higher level of knowledge about the content they manage compared to American managers. A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: A) TRUE. 41. To official stop trading with another country A) Embargo. B) Customs. C) Turnkey projects. D) Licensing. Show Answer Correct Answer: A) Embargo. 42. A set of principles that establishes ethical standards for employees and business. A) Ethics. B) Professional code. C) Ethics in international business. D) Global code of conduct. Show Answer Correct Answer: D) Global code of conduct. 43. The negotiating team should include members in each of the following areas except ( ). A) Financial. B) Commercial. C) Psychological. D) Techinical. Show Answer Correct Answer: C) Psychological. 44. Identify the first step in the export procedure- A) Receipt of enquiry. B) Intent. C) Production of goods. D) Export licence. Show Answer Correct Answer: A) Receipt of enquiry. 45. Why is it crucial to understand the socio-cultural factors of a foreign planet when doing business? A) To ensure the business is culturally sensitive and respectful. B) To learn the alien language. C) To understand the alien technology. D) To compete in intergalactic sports events. Show Answer Correct Answer: A) To ensure the business is culturally sensitive and respectful. 46. Maximum duration of credit period is A) 90 days. B) 180 days. C) 365 days. D) All of the above. Show Answer Correct Answer: D) All of the above. 47. How does culture impact international trade? A) Culture has no effect on international trade. B) Culture only influences local markets, not global trade. C) Cultural differences are irrelevant in business negotiations. D) Culture impacts international trade by shaping consumer preferences, negotiation styles, and business practices. Show Answer Correct Answer: D) Culture impacts international trade by shaping consumer preferences, negotiation styles, and business practices. 48. For employee comfort, many companies allow animal friends to come to work too. Scripps, a healthcare organization (for people) offers health insurance for employees' furry friends. A) Health Options. B) Bring your pets to work. C) Personalized Space. D) None of the above. Show Answer Correct Answer: B) Bring your pets to work. 49. What does marketing aim to identify and satisfy? A) The company's budget. B) The wants and needs of a target market. C) The competitor's strategy. D) The employee's preferences. Show Answer Correct Answer: B) The wants and needs of a target market. 50. Which of the following is NOT a factor considered in PESTEL analysis? A) Technological. B) Economic. C) Political. D) Social. Show Answer Correct Answer: A) Technological. 51. The definition of 'Globalization' includes: A) The isolation of national economies. B) Growing interdependence between countries and economic actors. C) Domestic business activity expansion. D) The closing of borders to trade. Show Answer Correct Answer: B) Growing interdependence between countries and economic actors. 52. What is a significant difference between domestic and international business? A) International business has fewer legal requirements. B) International business deals with currency fluctuations. C) Domestic business requires more complex market entry strategies. D) None of the above. Show Answer Correct Answer: B) International business deals with currency fluctuations. 53. What is a significant factor in the technological environment? A) Local market size. B) Political stability. C) Weather conditions. D) Cultural acceptance of technology. Show Answer Correct Answer: D) Cultural acceptance of technology. 54. What is the primary driver of globalization in international business? A) Increased regional trade agreements. B) Expansion of local markets. C) Advances in technology and communication. D) Decline in foreign investments. Show Answer Correct Answer: C) Advances in technology and communication. 55. The structure and processes that a country uses to allocate its resources and conduct its commercial activities. A) Political system. B) Social system. C) Economic system. D) Cultural system. Show Answer Correct Answer: C) Economic system. 56. How does international business contribute to economic growth? A) International business contributes to economic growth by increasing trade, attracting investment, creating jobs, and enhancing competition. B) International business leads to job losses and economic decline. C) International business reduces trade barriers and increases tariffs. D) International business has no impact on local economies. Show Answer Correct Answer: A) International business contributes to economic growth by increasing trade, attracting investment, creating jobs, and enhancing competition. 57. A ..... is an organization that does business in several different countries. A) Domestic business. B) Multinational company. C) Free trade zone. D) Foreign business. Show Answer Correct Answer: B) Multinational company. 58. What are foreign exchange markets? A) Markets for buying and selling commodities. B) Centralized markets for buying and selling currencies. C) Markets for buying and selling stocks. D) Decentralized markets for buying and selling currencies. Show Answer Correct Answer: D) Decentralized markets for buying and selling currencies. 59. What is the term for the practice of selling goods in a foreign country at a price lower than their fair market price? A) Subsidizing. B) Sanctioning. C) Dumping. D) Tariffing. Show Answer Correct Answer: C) Dumping. 60. ..... refers to a political system in which government is organized by and accountable to the people. A) Fascism. B) Totalitarianism. C) Democracy. D) Socialism. Show Answer Correct Answer: C) Democracy. ← PreviousNext →Related QuizzesCommerce QuizzesClass 11 QuizzesClass 11 Business Studies Chapter 10 International Business Quiz 1Class 11 Business Studies Chapter 10 International Business Quiz 2Class 11 Business Studies Chapter 10 International Business Quiz 3Class 11 Business Studies Chapter 10 International Business Quiz 5Class 11 Business Studies Chapter 10 International Business Quiz 6Class 11 Business Studies Chapter 10 International Business Quiz 7Class 11 Business Studies Chapter 10 International Business Quiz 8Class 11 Business Studies Chapter 10 International Business Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books