This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 10 International Business – Quiz 74 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 10 International Business Quiz 74 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Define trading bloc. A) Groups of countries that agree to reduce or eliminate trade barriers between themselves. B) Union that adopts a common currency. C) Measure of the the price of a country's exports relative to its imports. D) Refers to the value of exports minus imports. Show Answer Correct Answer: A) Groups of countries that agree to reduce or eliminate trade barriers between themselves. 2. What is the focus of global supply chain management? A) Managing local suppliers and logistics. B) Coordinating the flow of goods, services, and information across international borders. C) Implementing marketing strategies domestically. D) Reducing production costs solely within one country. Show Answer Correct Answer: B) Coordinating the flow of goods, services, and information across international borders. 3. Total exports-Total imports = Net Balance of Trade A) Net Carbs. B) Net Surplus. C) Net Balance. D) Net Deficit. Show Answer Correct Answer: C) Net Balance. 4. The four types of pressure for local responsiveness are:differences in consumer tastes and preferences, differences in traditional practices and structure, differences in distribution channels and host government demands. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 5. Members do away with duties and other trade barriers-they allow companies to invest freely in each member's country *ex. EU (European Union) A) Free-trade zones. B) Free-trade agreements. C) Non-tariff alliances. D) Common markets. Show Answer Correct Answer: D) Common markets. 6. How can excessive exports negatively impact a country's natural resources? A) It accelerates the exhaustion of natural resources. B) It leads to a more sustainable use of resources. C) It has no impact on natural resources. D) It increases the availability of natural resources. Show Answer Correct Answer: A) It accelerates the exhaustion of natural resources. 7. Political union is economic and political integration whereby countries coordinate aspects of their economic and political systems. A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: A) TRUE. 8. What is the purpose of PESTEL analysis in International Business? A) To analyze the internal factors of a firm. B) To focus on technological advancements only. C) To evaluate the political environment only. D) To understand the external factors that influence a firm's decisions. Show Answer Correct Answer: D) To understand the external factors that influence a firm's decisions. 9. What is the importance of establishing relationships with local partners? A) To increase competition in the market. B) To provide insights into market dynamics and navigate local regulations. C) To standardize operations across all markets. D) To reduce costs by eliminating local suppliers. Show Answer Correct Answer: B) To provide insights into market dynamics and navigate local regulations. 10. This is a type of business formation where two or more parties manage and operate a business and share its' profits. A) Sole proprietorship. B) Corporation. C) Partnership. D) LLC. Show Answer Correct Answer: C) Partnership. 11. What is international business primarily concerned with? A) Only the import of goods. B) Trade of goods and services across national borders. C) Local business operations. D) Only the export of goods. Show Answer Correct Answer: B) Trade of goods and services across national borders. 12. Which of the following is NOT true about MNEs? A) They engage in international business activities. B) They have subsidiaries in multiple countries. C) They only invest domestically. D) Their home country acts as a command center for global operations. Show Answer Correct Answer: C) They only invest domestically. 13. Bill of Lading is issued by: A) Captain of the ship. B) Shipping company. C) Export Council. D) Chamber of Commerce. Show Answer Correct Answer: B) Shipping company. 14. A fair price for goods, specifically for developing country producers for better trading conditions. Some goods it usually includes are crafts, coffee, cocoa, sugar, tea, bananas, honey, cotton, fresh fruit, chocolate, and flowers. A) International. B) Fair trade. C) Domestic trade. D) World Trade Organization. Show Answer Correct Answer: B) Fair trade. 15. What is a multinational company? A) A company that operates in only one country. B) A company that operates in multiple countries. C) A company that operates in multiple cities. D) A company that operates in multiple continents. Show Answer Correct Answer: B) A company that operates in multiple countries. 16. How do international financial institutions regulate global markets? A) International financial institutions regulate global markets by setting standards, providing financial assistance, monitoring policies, and promoting cooperation. B) By imposing tariffs on imports. C) By banning all foreign investments. D) By controlling national currencies directly. Show Answer Correct Answer: A) International financial institutions regulate global markets by setting standards, providing financial assistance, monitoring policies, and promoting cooperation. 17. NAFTA has its own certificate or origin A) Yes. B) No. C) All the above. D) None of the above. Show Answer Correct Answer: A) Yes. 18. What does 'Cultural Forces' refer to in assessing the national business environment? A) Social norms and values. B) Political stability. C) Legal regulations. D) Economic conditions. Show Answer Correct Answer: A) Social norms and values. 19. Big $\rightarrow$ biggerexpensive $\rightarrow$ ..... A) More expensive. B) More expensiver. C) Expensiver. D) Most expensive. Show Answer Correct Answer: A) More expensive. 20. Why is franchising popular in consumer retailing? A) It allows for complete ownership transfer. B) It provides support such as training and advertising. C) It only involves technology transfer. D) It does not require any manuals or procedures. Show Answer Correct Answer: B) It provides support such as training and advertising. 21. Which mode of entry is characterized by minimal risk but also limited control over operations? A) Wholly-owned subsidiary. B) Franchising. C) Direct investment. D) Exporting. Show Answer Correct Answer: B) Franchising. 22. What spice should you avoid in Egypt? A) Paprika. B) Salt. C) Pepper. D) Oregano. Show Answer Correct Answer: B) Salt. 23. The speaker mentioned that cultural similarities are more important than differences. A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: B) FALSE. 24. What is a possible consequence of foreign companies replacing domestic workers? A) Increased domestic employment. B) Job displacement. C) Enhanced local skills. D) Improved worker satisfaction. Show Answer Correct Answer: B) Job displacement. 25. The amount added to the ..... of a product to determine the selling price is known as markup. A) Sales. B) Selling Price. C) Gross Profit. D) Cost. Show Answer Correct Answer: D) Cost. ← 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