This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 10 International Business – Quiz 7 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 10 International Business Quiz 7 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Packaging credit is also known as: A) Post-shipment credit. B) Pre-shipment credit. C) Buyers Credit. D) Non of these. Show Answer Correct Answer: B) Pre-shipment credit. 2. Which of these is considered a sociocultural environment factor? A) Exchange rates. B) Local customs and traditions. C) Foreign trade policies. D) Inflation rates. Show Answer Correct Answer: B) Local customs and traditions. 3. Which institution offers financial support and resources for development projects and investments in emerging economies? A) Private Equity Firms. B) Multilateral Development Banks. C) Export Credit Agencies. D) Venture Capitalists. Show Answer Correct Answer: B) Multilateral Development Banks. 4. Identify the theory that predicts that countries will export those goods that make intensive use of factors that are locally abundant. A) Theory of comparative advantage. B) Ricardo theory. C) New trade theory. D) Heckscher-Ohlin theory. Show Answer Correct Answer: D) Heckscher-Ohlin theory. 5. Of which of the trading blocs is NAFTA an example? A) Economic unions. B) Common market. C) Free Trade area. D) Customs unions. Show Answer Correct Answer: C) Free Trade area. 6. Which Indian ministry introduced the EXIM policy? A) Ministry of Finance. B) Ministry of Commerce and Industry. C) Ministry of Foreign Affairs. D) Ministry of Corporate Affairs. Show Answer Correct Answer: B) Ministry of Commerce and Industry. 7. Why is India seeking Foreign Direct Investment? A) To increase tariffs on imports. B) To reduce foreign influence in the economy. C) To boost economic growth and create jobs. D) To limit competition from local businesses. Show Answer Correct Answer: C) To boost economic growth and create jobs. 8. Which of the following terms is used to refer to the positive or negative evaluations, feelings, and tendencies that individuals harbor toward objects or concepts? A) Customs. B) Attitudes. C) Traditions. D) Values. Show Answer Correct Answer: B) Attitudes. 9. What are the potential negative/s of currency devaluation for businesses? A) Weakening purchasing power. B) All of the above. C) Less profits (if you are owned by an overseas company). D) Rising cost of imported materials. Show Answer Correct Answer: B) All of the above. 10. All of the following are benefits of international business except A) Expanded business opportunities. B) Increased sources of raw materials. C) Decreased competition. D) Improved political relationships. Show Answer Correct Answer: C) Decreased competition. 11. What are the challenges of international business? A) Cultural differences, language barriers, legal and regulatory complexities, currency exchange rates, political instability, and logistical challenges. B) Lack of government support, lack of infrastructure, lack of access to capital. C) High competition, lack of financial resources, lack of market knowledge. D) Lack of technological advancements, lack of skilled workforce, lack of market demand. Show Answer Correct Answer: A) Cultural differences, language barriers, legal and regulatory complexities, currency exchange rates, political instability, and logistical challenges. 12. What measures the amount of money a country owes another country? A) Foreign policy. B) Balance of Trade. C) Foreign Debt. D) Import. Show Answer Correct Answer: C) Foreign Debt. 13. Some key problem-solving skills include:*Active listening.*Analysis.*Research.*Creativity.*Communication.*Dependability.*Decision making. *Team-building. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 14. Intercultural communication can be difficult. A) TRUE. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) TRUE. 15. Which benefit of trade and FDI allows consumers to access a wide range of products at competitive prices? A) Consumer Benefits. B) Increased Tariffs. C) Reduced Competition. D) Limited Product Variety. Show Answer Correct Answer: A) Consumer Benefits. 16. If a country exports more than it imports it has a A) Trade surplus. B) Trade deficit. C) Trade balance. D) Trade wind. Show Answer Correct Answer: A) Trade surplus. 17. The Euro is currently used in ..... A) All EU member countries. B) All European countries. C) 19 EU countries. D) Schengen countries only. Show Answer Correct Answer: C) 19 EU countries. 18. Arrangement between two or more countries to remove restrictions between them while imposing the barriers from countries NOT included in the bloc. A) Trading Bloc. B) Treaty. C) Tariff. D) None of the above. Show Answer Correct Answer: A) Trading Bloc. 19. In the WTO organizational hierarchy, which body meets biennially and serves as the top decision-making authority? A) General Council in Geneva. B) Ministerial Conference. C) Council for Trade in Goods. D) Dispute Settlement Body. Show Answer Correct Answer: B) Ministerial Conference. 20. When doing a creditability study of your counterpart, which of the following is not included in the creditability report? A) Capital held. B) Business scope. C) Executive's hobbies. D) Credit status. Show Answer Correct Answer: C) Executive's hobbies. 21. In 2010, Mexico imposed a limit of 250, 000 tons of sugar that could be imported into Mexico. This is a(n) ..... A) Tariff. B) Quota. C) Embargo. D) None of the above. Show Answer Correct Answer: B) Quota. 22. In ..... business buyers and sellers can be from different countries A) Domestic. B) International. C) All the above. D) None of the above. Show Answer Correct Answer: B) International. 23. One of the objectives of international business is to increase sales fluctuations? A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 24. This country is the largest source of immigration to the United States. A) Canada. B) Columbia. C) Mexico. D) None of the above. Show Answer Correct Answer: C) Mexico. 25. Which factor best explains the experience-curve effect that helps multinational firms reduce unit costs over time? A) Greater local responsiveness to each market. B) Higher tariffs and trade barriers. C) Institutional ownership structure in the home country. D) Learning-by-doing and accumulated production experience. Show Answer Correct Answer: D) Learning-by-doing and accumulated production experience. ← 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 8Class 11 Business Studies Chapter 10 International Business Quiz 9Class 11 Business Studies Chapter 10 International Business Quiz 10Class 11 Business Studies Chapter 10 International Business Quiz 11 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books