This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 10 International Business – Quiz 56 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 10 International Business Quiz 56 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. World Trade Organization (WTO) is A) Agreement that created a free-trade area among the United States, Canada, and Mexico. B) Is a company that conducts business in only one country, which is known as the home country. C) A permanent global institution to promote international trade and to settle international trade disputes. D) None of the above. Show Answer Correct Answer: C) A permanent global institution to promote international trade and to settle international trade disputes. 2. Which of the following best describes a newly created JV (Joint Venture)? A) A new corporate entity created and jointly owned by two or more parent companies. B) A company acquired through a conventional acquisition. C) A subsidiary formed by a single parent company. D) A merger between two competing firms. Show Answer Correct Answer: A) A new corporate entity created and jointly owned by two or more parent companies. 3. ..... are given by government to ensure its products produced in their country would cost less and are more competitive than those from other countries. A) Quota. B) Standards. C) Exchange control. D) Subsidies. Show Answer Correct Answer: D) Subsidies. 4. Mengapa penting untuk mengubah arsitektur organisasi agar lebih sesuai dengan strategi global? A) Untuk mengurangi biaya operasional perusahaan. B) Untuk meningkatkan kerjasama antar unit bisnis global. C) Untuk mencapai tujuan finansial perusahaan. D) Untuk memanfaatkan peluang pasar global. Show Answer Correct Answer: D) Untuk memanfaatkan peluang pasar global. 5. Arrangement between Dabbawallas and Flipkart is a ..... A) Takeover. B) Partnership. C) Strategic alliance. D) Outsourcing. Show Answer Correct Answer: C) Strategic alliance. 6. NAFTA is an example of a(n) ..... A) Free trade area. B) Customs union. C) Common market. D) Economic union. Show Answer Correct Answer: A) Free trade area. 7. What is one disadvantage of Regional Trade Agreements (RTAS) mentioned in the provided information? A) Increased trade and economic cooperation among member states. B) Fostering closer political and diplomatic ties among member states. C) Complexity and potential compliance costs for businesses. D) Economies of scale and lower production costs. Show Answer Correct Answer: C) Complexity and potential compliance costs for businesses. 8. Competitive pressures on companies within an industry come from those: A) Companies in other industries attempting to win buyers over to their substitute products. B) The market maneuvering that goes on among rival firms in the industry. C) The threat of new entrants into the marketplace. D) All of these. Show Answer Correct Answer: D) All of these. 9. What is the role of international trade agreements in promoting global business? A) International trade agreements increase trade barriers and hinder global business. B) International trade agreements reduce trade barriers and establish rules that facilitate global business. C) International trade agreements have no impact on global business. D) International trade agreements only benefit certain countries and do not promote global business. Show Answer Correct Answer: B) International trade agreements reduce trade barriers and establish rules that facilitate global business. 10. The Heckscher-Ohlin Theory (Factor Proportions Theory) argues that countries will export goods that use their abundant factors of production. For example, China (labor-abundant) would export: A) Capital-intensive machinery. B) Land-intensive agricultural products. C) Labor-intensive textiles. D) Natural resources like oil. Show Answer Correct Answer: C) Labor-intensive textiles. 11. The integration of markets, nation-states, and technologies in a way that is enabling individuals, corporations, and nation-states to reach around the world farther, faster, deeper, and cheaper than ever before is referred to as ..... A) International business organization. B) Globalization. C) Market internationalization. D) Economic integration. Show Answer Correct Answer: B) Globalization. 12. The international sales contract is considered a "consensual contact, " A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: A) TRUE. 13. What does "Lead Time" describe? A) Time needed to place an order. B) Time from order placement to final product delivery. C) Time for managing internal logistics. D) Employee training time. Show Answer Correct Answer: B) Time from order placement to final product delivery. 14. The value of a country's currency is likely to decline as a result of A) Higher inflation. B) Lower interest rates. C) A trade surplus. D) A favorable balance of payments. Show Answer Correct Answer: A) Higher inflation. 15. What does the term 'harmonizing with local governance' refer to? A) Understanding and complying with local laws and regulations. B) Standardizing governance practices across all markets. C) Ignoring local laws to maintain global standards. D) Creating a separate governance structure for each market. Show Answer Correct Answer: A) Understanding and complying with local laws and regulations. 16. ..... is a tax that a government places on certain imported products A) Tariff. B) Quota. C) Embargo. D) Export. Show Answer Correct Answer: A) Tariff. 17. What was the first economic theory of international trade to be developed? A) The theory of mercantilism. B) The theory of comparative advantage. C) The theory of absolute advantage. D) The Heckscher-Ohlin theory. Show Answer Correct Answer: A) The theory of mercantilism. 18. What is the World Bank? A) A cooperative banking institution with 189 member countries. B) An international bank that makes short-term loans. C) A firm that operates on a worldwide scale. D) An independent agency of the U.S. government. Show Answer Correct Answer: A) A cooperative banking institution with 189 member countries. 19. Which of the following is a constituent of the global marketing environment? A) Political Environment. B) Financial Environment. C) Local Environment. D) Cultural Environment. Show Answer Correct Answer: A) Political Environment. 20. In international business, a company always uses its home country's currency for all transactions. A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: B) FALSE. 21. Apa yang dimaksud dengan "Import Quotas" ? A) Pembatasan jumlah barang yang dapat diimpor. B) Pengenaan pajak pada barang impor. C) Larangan total terhadap impor. D) Pemberian subsidi kepada importir. Show Answer Correct Answer: A) Pembatasan jumlah barang yang dapat diimpor. 22. What are some key cultural differences that can impact international business negotiations? A) Universal marketing strategies. B) Key cultural differences impacting international business negotiations include communication styles, attitudes towards hierarchy, decision-making processes, and relationship-building approaches. C) Uniformity in business attire. D) Standardized pricing models. Show Answer Correct Answer: B) Key cultural differences impacting international business negotiations include communication styles, attitudes towards hierarchy, decision-making processes, and relationship-building approaches. 23. The gravity model of trade predicts higher trade volumes between which pairs of countries? A) Small economies with distant locations. B) Large economies that are geographically close. C) Nations with identical factor endowments. D) Countries at late product decline stages. Show Answer Correct Answer: B) Large economies that are geographically close. 24. The opportunity cost of one DVD in Japan: A) One ton of steel. B) Two tons of steel. C) Three tons of steel. D) Four tons of steel. Show Answer Correct Answer: A) One ton of steel. 25. Which of the following is NOT a mode of entry into foreign country? A) Export. B) Licensing. C) Franchising. D) Internationalization. Show Answer Correct Answer: D) Internationalization. ← 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