This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 10 International Business – Quiz 81 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 10 International Business Quiz 81 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. ..... refers to nation's transpiration, communication, and utility systems. A) Intrastate commerce. B) Infrastructure. C) Global mobility. D) Trade barriers. Show Answer Correct Answer: B) Infrastructure. 2. Locating production facilities near target markets reduces transportation costs and ensures faster and more efficient delivery of products to customers. This is known as ..... A) Market Access. B) Product Diversification. C) Backward Integration. D) Brand Positioning. Show Answer Correct Answer: A) Market Access. 3. The New York Stock Exchange is open from Eastern Standard Time (EST). A) 8:30 am-5:00 pm. B) 9:30 am-5:00 pm. C) 9:30 am-4:00 pm. D) 8:30 am-4:00 pm. Show Answer Correct Answer: C) 9:30 am-4:00 pm. 4. Which region consistently had the highest percentage share of merchandise exports from 2018 to 2022? A) Europe. B) Asia (including Oceania). C) North America. D) Africa. Show Answer Correct Answer: A) Europe. 5. Which element of culture involves the communication systems, including spoken and written forms, used by a society? A) Social Organization. B) Language. C) Manners and Customs. D) Aesthetics. Show Answer Correct Answer: B) Language. 6. Which pricing strategy involves setting prices based on individual countries? A) Standard pricing. B) Country-by-country pricing. C) Global pricing. D) Regional pricing. Show Answer Correct Answer: B) Country-by-country pricing. 7. Country will produce only ONE product that it has absolute advantage. This refers to: A) Absolute advantage. B) Comparative advantage. C) Efficiency. D) Specialization. Show Answer Correct Answer: D) Specialization. 8. A firm should avoid licensing and joint ventures if its competitive advantage is mainly based on: A) Brand name recognition. B) Management know-how. C) Technological know-how. D) Local market knowledge. Show Answer Correct Answer: C) Technological know-how. 9. Which of the following is NOT a way to create customer value? A) Improve the product. B) Increase the price. C) Find new distribution channels. D) Create better communications. Show Answer Correct Answer: B) Increase the price. 10. NAFTA is an agreement among the U.S., Canada, and Mexico primarily intended to promote A) Environmental protection. B) Military defense. C) Human rights. D) Free trade. Show Answer Correct Answer: D) Free trade. 11. How can cultural differences impact international business operations? A) Cultural differences are irrelevant in supply chain management. B) Cultural differences can impact communication, negotiation, decision-making, and management practices in international business operations. C) Cultural differences only affect marketing strategies. D) Cultural differences have no impact on employee performance. Show Answer Correct Answer: B) Cultural differences can impact communication, negotiation, decision-making, and management practices in international business operations. 12. ..... is a contractual arrangement in which a firm in one country allows the use of its intellectual property by a firm in a second country in return for a royalty payment. A) Leasing. B) Franchising. C) Licensing. D) Merchandising. Show Answer Correct Answer: C) Licensing. 13. Business attire should be A) Well-fitted and neat. B) Bright and make a statement. C) Tight and revealing. D) Loose and wrinkled. Show Answer Correct Answer: A) Well-fitted and neat. 14. Transaction that are carried out across national border to satisfy the objective of ..... and ..... A) Individuals. B) Organization. C) Both a & b. D) None of the above. Show Answer Correct Answer: C) Both a & b. 15. Which countries are covered by the South Asian Free Trade Area (SAFTA)? A) India, Pakistan, Bangladesh, Sri Lanka, The Maldives, Nepal, Bhutan. B) China, Japan, Korea, Australia, New Zealand. C) Saudi Arabia, Kuwait, Bahrain, Oman, Qatar, UAE. D) Brazil, Argentina, Paraguay, Uruguay. Show Answer Correct Answer: A) India, Pakistan, Bangladesh, Sri Lanka, The Maldives, Nepal, Bhutan. 16. Before goods enters a country they must meet a certain criteria. This is known as ..... A) Subsidy. B) Safe goods. C) Standards. D) Non negotiable. Show Answer Correct Answer: C) Standards. 17. International business relates to any situation where the production or distribution of goods or services crosses country borders. A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: A) TRUE. 18. The OECD stands for: A) Organization for Economic Coordination and Development. B) Organization for Economic Co-operation and Development. C) Organization for Environmental Cooperation and Development. D) Organization for Environmental Control and Development. Show Answer Correct Answer: B) Organization for Economic Co-operation and Development. 19. What is a key characteristic of smaller countries in international trade? A) They can only produce one good. B) They have less potential for trade. C) They are less competitive. D) They can specialize in one commodity. Show Answer Correct Answer: D) They can specialize in one commodity. 20. Outsourcing and Offshoring refer to which of the following? A) Business practices of delegating work to external or overseas providers. B) Hiring only local employees for all business functions. C) Expanding a business only within the home country. D) Focusing solely on in-house production without external help. Show Answer Correct Answer: A) Business practices of delegating work to external or overseas providers. 21. What is an LC? A) Letter of Commitment. B) Letter of Consent. C) Letter of Credit. D) Letter of Conversation. Show Answer Correct Answer: C) Letter of Credit. 22. What type of barriers include complex relationships and different laws as part of international trade? A) Economic Barriers. B) Ethical, Legal, and Political Barriers. C) Cultural Barriers. D) Physical Barriers. Show Answer Correct Answer: B) Ethical, Legal, and Political Barriers. 23. Which of the following best describes competitor analysis? A) The process of setting prices above competitors. B) The process of anticipating a rival's actions to revise a firm's plan and prepare for rivals' responses. C) The process of merging with competitors. D) The process of creating new market structures. Show Answer Correct Answer: B) The process of anticipating a rival's actions to revise a firm's plan and prepare for rivals' responses. 24. Country X, a poor country, invents a revolutionary electronic product. The country markets this new product in other poor countries to garner large profits. This occurrence is against the idea of ..... A) Product life-cycle theory. B) Ricardo's theory. C) Theory of absolute advantage. D) Theory of comparative advantage. Show Answer Correct Answer: A) Product life-cycle theory. 25. Which organization provides loans for projects such as infrastructure in developing countries? A) World Bank. B) IMF. C) WTO. D) Basel Committee. Show Answer Correct Answer: A) World Bank. ← 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