This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 10 International Business – Quiz 50 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 10 International Business Quiz 50 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Based on the table, which industry characteristic increases the possibility of collusion? A) Many firms with low concentration. B) Homogenous products. C) Low market commonality. D) No industry price leader. Show Answer Correct Answer: B) Homogenous products. 2. What is the hub and spoke system in international trade? A) A system that strengthens countries at the hubs. B) A system that creates a single global market. C) A system that eliminates all trade barriers. D) A system that unifies currency across countries. Show Answer Correct Answer: A) A system that strengthens countries at the hubs. 3. Which model describes internationalizing firms gradually gaining experiential knowledge and incrementally committing more resources to foreign markets? A) Uppsala model. B) Network internationalization model. C) Stages models. D) Transaction cost model. Show Answer Correct Answer: A) Uppsala model. 4. To determine whether it is more advantageous to buy locally or to import, what do traders need to know? A) The international product life cycle. B) The world economic situation. C) The exchange rate. D) The needs of customers. Show Answer Correct Answer: C) The exchange rate. 5. What are the benefits of entering a foreign market? A) Higher operational costs and risks. B) Increased competition and market saturation. C) Limited access to local resources and talent. D) Access to new customers and revenue diversification. Show Answer Correct Answer: D) Access to new customers and revenue diversification. 6. Loans upto 10 crore are sanctioned by A) Exim bank. B) Private bank. C) Commercial bank. D) Public bank. Show Answer Correct Answer: A) Exim bank. 7. What is a potential financial benefit for companies that integrate CSR into their business strategies? A) Companies may experience improved financial performance, as CSR initiatives often lead to operational efficiencies and cost savings. B) Companies are exempt from all government regulations if they implement CSR. C) CSR guarantees that a company will never face any financial losses. D) Companies can avoid paying employee salaries by implementing CSR. Show Answer Correct Answer: A) Companies may experience improved financial performance, as CSR initiatives often lead to operational efficiencies and cost savings. 8. Presently, which of the following countries is BEST characterized as a pure example of a command economy? A) Russia. B) North Korea. C) China. D) Vietnam. Show Answer Correct Answer: B) North Korea. 9. It is a protectionism measure that consists of limiting imports to a certain quantity. A) Tariff. B) Subsidy. C) Legal norm. D) Fee. Show Answer Correct Answer: D) Fee. 10. In which of the following modes of entry does the domestic manufacturer give the right to use intellectual property such as patent and trademark to a manufacturer in a foreign country for a fee? A) Licensing. B) Contract manufacturing. C) Joint venture. D) None of the above. Show Answer Correct Answer: A) Licensing. 11. What is the purpose of international trade agreements? A) To limit the exchange of goods and services between countries. B) To restrict economic growth and increase barriers to trade. C) To establish rules and regulations, promote economic growth, and reduce barriers to trade. D) To create chaos and confusion in the global market. Show Answer Correct Answer: C) To establish rules and regulations, promote economic growth, and reduce barriers to trade. 12. Which of the following is NOT typically a consideration when deciding between wholly owned Greenfield and full acquisition? A) Need for complementary local resources. B) Availability of acquisition targets. C) Governmental restrictions on FAs and incentives for WOGs. D) Reducing the speed of market entry. Show Answer Correct Answer: D) Reducing the speed of market entry. 13. This country has the largest population in the world. A) USA. B) Russia. C) China. D) None of the above. Show Answer Correct Answer: C) China. 14. Commodities involves those economic transactions that take place inside the geographical boundaries of a country A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 15. Where would you be if you ordered Century Egg Chicken Porridge in McDonalds? A) Japan. B) Vietnam. C) China. D) Brazil. Show Answer Correct Answer: C) China. 16. Currency differences in international business require firms to: A) Use only their home country's currency. B) Adapt to fluctuating exchange rates. C) Avoid trading internationally. D) Standardize legal systems. Show Answer Correct Answer: B) Adapt to fluctuating exchange rates. 17. When there is not enough of a certian good this is known as? A) Economics. B) Scarcity. C) Services. D) Goods. Show Answer Correct Answer: B) Scarcity. 18. Capital supplied by residents of one country to residents of another is known as ..... A) International investments. B) Host-country financing. C) International franchising. D) Domestic inversion financing. Show Answer Correct Answer: A) International investments. 19. A low-priced item designed to attract customers to a store, hoping consumers will buy other items as well. A) Competitive Pricing. B) Skim Pricing. C) Penetration Pricing. D) Loss Leader. Show Answer Correct Answer: D) Loss Leader. 20. Which theory stated that to increase wealth, government policy should promote exports and discourage imports A) International product life cycle. B) Absolute advantage. C) Comparative advantage. D) Mercantilism. Show Answer Correct Answer: D) Mercantilism. 21. Privacy and personal space are highly valued. Physical space is considered privately owned. A) High Context. B) Low Context. C) All the above. D) None of the above. Show Answer Correct Answer: B) Low Context. 22. OPEC stands for A) Organisation for Power and Electricity Commission. B) Organisation for Petroleum Export Countries. C) Oil, Petroleum and Electricity Corporation. D) None of the above. Show Answer Correct Answer: B) Organisation for Petroleum Export Countries. 23. Which trade theory suggests that a country should specialize in producing and exporting goods that intensively use factors of production that are abundant in that country? A) Heckscher-Ohlin theory. B) Mercantilism theory. C) Absolute advantage theory. D) Comparative advantage theory. Show Answer Correct Answer: A) Heckscher-Ohlin theory. 24. Attempts to deal with questions of what to do in situations where Ethical standards come into Conflict as a results of the differing culture practices. A) Business Ethics. B) Ethical Dilemma. C) Multinational corporation. D) International Business Ethics. Show Answer Correct Answer: D) International Business Ethics. 25. A government action that decreases an industry's productions costs, which also decreases the price of the industry's goods (e.g. Farm subsidies in NE) A) Domestic trade. B) Free trade. C) Market. D) Subsidy. Show Answer Correct Answer: D) Subsidy. ← 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