This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 10 International Business – Quiz 101 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 10 International Business Quiz 101 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The IMF was established in: A) 1944. B) 1955. C) 1961. D) 1973. Show Answer Correct Answer: A) 1944. 2. Pressures for global integration-highpressures for local responsiveness-low A) Global strategy. B) Transnational strategy. C) International strategy. D) Multidomestic strategy. Show Answer Correct Answer: A) Global strategy. 3. The countries often share a common currency. These country probably are the members of ..... A) EUROPEAN UNION. B) MERCOSUR. C) Andean Community. D) ASEAN. Show Answer Correct Answer: A) EUROPEAN UNION. 4. Which of the following is NOT a type of international business? A) Licensing. B) Export and Import. C) Retail Marketing. D) Foreign Direct Investment (FDI). Show Answer Correct Answer: C) Retail Marketing. 5. Countries use embargoes to ..... A) Punish other countries for doing something they don't like. B) Encourage trade with other countries. C) Give countries discounts on trading there. D) Do not affect trade between countries. Show Answer Correct Answer: A) Punish other countries for doing something they don't like. 6. Refers to the extent to which a country is endowed with such resources as land, labor, and capital. A) Comparative advantage. B) Factor endowments. C) Factors of production. D) None of the above. Show Answer Correct Answer: B) Factor endowments. 7. Economies of scale in global markets most directly help firms by A) Avoiding any political influences. B) Reducing product variety for customers. C) Lowering unit costs via larger output. D) Raising prices through scarcity. Show Answer Correct Answer: C) Lowering unit costs via larger output. 8. Commodities-A port is a maritime facility comprising one or more wharves or loading areas, where ships load and discharge cargo and passengers A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 9. What does "transnational business" refer to? A) Businesses that only operate within their home country. B) Companies that transcend national borders and integrate operations. C) Businesses focusing solely on exports. D) Multinational corporations with no global strategy. Show Answer Correct Answer: B) Companies that transcend national borders and integrate operations. 10. There are two forms of direct foreign investment:wholly ventures and subsidiaries A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 11. Supports the premise that a nation could only gain from trade if it had a trade surplus, which is, more exporting than importing A) Theory of Absolute Advantage. B) Mercantilism Theory. C) Theory of Comparative Advantage. D) Heckscher-Ohlin (H.0.) Theory. Show Answer Correct Answer: B) Mercantilism Theory. 12. Refers to operations in one country that ire controlled by entities in a foreign country. A) Franchising. B) Foreign direct investment. C) Licensing. D) Exporting. Show Answer Correct Answer: B) Foreign direct investment. 13. If a person communicates indirectly and attaches little value to the literal meaning of words, their communication is A) Low-context. B) High-context. C) All the above. D) None of the above. Show Answer Correct Answer: B) High-context. 14. What does the term "attack" refer to in the context of competitive dynamics? A) An initial set of actions to gain competitive advantage. B) A defensive response to a competitor's move. C) A strategy to avoid direct confrontation. D) A framework for coordinating subsidiaries. Show Answer Correct Answer: A) An initial set of actions to gain competitive advantage. 15. (a) is an economic system in which land, factories, and other economic resources are rather equally split between private and government ownership. A) A. Mixed economic. B) Capitalist economic. C) Socialist economic. D) Centrally planned. Show Answer Correct Answer: A) A. Mixed economic. 16. Value creation enable the firm to reduce the costs of value creation and/or to create perceived value in such a way that premium pricing is possible A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 17. Why is FDI (Foreign Direct Investment) good for a country? A) It increases the price of imported goods. B) It creates new jobs and brings new technology. C) It makes local businesses close. D) It only helps the foreign company. Show Answer Correct Answer: B) It creates new jobs and brings new technology. 18. How does Apple exemplify a global strategy? A) By offering standardized products like the iPhone. B) By customizing products for local markets. C) By focusing on local tastes and preferences. D) By replicating its home country business model. Show Answer Correct Answer: A) By offering standardized products like the iPhone. 19. Religion and language are two examples of ..... conditions that influence international business. A) Political and legal. B) Cultural and social. C) Geographic. D) Economic. Show Answer Correct Answer: B) Cultural and social. 20. The UAE imports the most from this country A) China. B) Japan. C) Canada. D) England. Show Answer Correct Answer: A) China. 21. Based on the trends shown in the diagram, which type of export saw a significant increase in 2022 compared to previous years? A) Commercial services. B) Goods. C) Agricultural products. D) Technology services. Show Answer Correct Answer: A) Commercial services. 22. In 1962, the United States prohibited all imports and exports to and from Cuba. This is a(n) ..... A) Tariff. B) Quota. C) Embargo. D) None of the above. Show Answer Correct Answer: C) Embargo. 23. Which of the following best describes FEMA? A) Restrictive and penal in nature. B) Liberal and management-oriented. C) Applies to only banks. D) Focuses on domestic exchange. Show Answer Correct Answer: B) Liberal and management-oriented. 24. What does the "law of supply and demand" state? A) Prices are set by the intersection of the supply and the demand. B) Demand rises as the price of a product falls and demand decreases as prices rise. C) The higher the price, the more of a product or service that will be offered. D) All products and services have different degrees of price elasticity. Show Answer Correct Answer: A) Prices are set by the intersection of the supply and the demand. 25. Which of the following is another challenge of SMIEs? A) Abundant human resources. B) Lack of managerial expertise. C) Strong global network. D) Economies of scale. Show Answer Correct Answer: B) Lack of managerial expertise. ← PreviousNext →Related 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 4Class 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 9Class 11 Business Studies Chapter 10 International Business Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books