This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 10 International Business – Quiz 9 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 10 International Business Quiz 9 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What is the term for a tax placed on goods imported from other countries? A) Tariff. B) Quota. C) Export. D) Subsidy. Show Answer Correct Answer: A) Tariff. 2. Which business function is influenced by cultural perceptions of leadership and management styles? A) Human Resources. B) Marketing. C) Production. D) Accounting and Finance. Show Answer Correct Answer: A) Human Resources. 3. How can cultural differences impact business negotiations? A) Cultural differences only impact personal relationships, not business negotiations. B) All cultures negotiate in the same way regardless of background. C) Cultural differences have no effect on negotiation outcomes. D) Cultural differences can lead to misunderstandings, affect communication styles, influence decision-making, and alter negotiation tactics. Show Answer Correct Answer: D) Cultural differences can lead to misunderstandings, affect communication styles, influence decision-making, and alter negotiation tactics. 4. ..... ..... exists when a country can produce a good or service at a lower cost than any other country. Think of South America and their coffee. A) Comparative advantage. B) Absolute advantage. C) Partial advantage. D) Total advantage. Show Answer Correct Answer: B) Absolute advantage. 5. Which international organization focuses on promoting cooperation and economic development among countries in the Asia-Pacific region? A) ASEAN. B) EU. C) NAFTA. D) APEC. Show Answer Correct Answer: D) APEC. 6. THIS WAS POSTULATED BY DAVID RICARDO A) THEORY OF ABSOLUTE ADVANTAGE. B) THEORY OF COMPARATIVE ADVANTAGE. C) All the above. D) None of the above. Show Answer Correct Answer: B) THEORY OF COMPARATIVE ADVANTAGE. 7. What are services? A) Physical Products. B) Money. C) Provided by people and can be touched. D) Provided by people and can not be touched. Show Answer Correct Answer: D) Provided by people and can not be touched. 8. In which country can you order a Cottage Cheese & Radish McMuffin in McDonalds? A) Poland. B) Norway. C) Mexico. D) Peru. Show Answer Correct Answer: A) Poland. 9. The only country in South America that speaks Portuguese. A) Chili. B) Venezuela. C) Brazil. D) None of the above. Show Answer Correct Answer: C) Brazil. 10. Hofstede's cultural dimensions refer to: A) A framework for understanding cultural differences across countries. B) A set of economic indicators for global markets. C) A theory about language development in societies. D) A model for international trade policies. Show Answer Correct Answer: A) A framework for understanding cultural differences across countries. 11. What are the cultural challenges faced by businesses in international trade? A) Political stability. B) Technological advancements. C) Currency exchange rates. D) Cultural differences, language barriers, negotiation styles, and ethical practices. Show Answer Correct Answer: D) Cultural differences, language barriers, negotiation styles, and ethical practices. 12. When the opportunity cost of producing a good/service is lower than that of a trading partner, a country is said to have a/an A) Absolute advantage. B) Comparative advantage. C) Transfer price advantage. D) Overall advantage. Show Answer Correct Answer: B) Comparative advantage. 13. Which classic Christmas movie was a box-office flop but became famous thanks to TV reruns? A) Home Alone. B) It's a Wonderful Life. C) The Polar Express. D) Love Actually. Show Answer Correct Answer: B) It's a Wonderful Life. 14. What does International Business primarily involve? A) Local market sales. B) Trade within a region. C) Cross-border trade of goods, services, and capital. D) Internet marketing. Show Answer Correct Answer: C) Cross-border trade of goods, services, and capital. 15. Theory of Absolute advantage was developed by A) David Ricardo. B) Adam Smith. C) Michael Porter. D) Mr Preston. Show Answer Correct Answer: B) Adam Smith. 16. Refers to the systematic reductions in production costs that have been observed to occur over the life of a product A) Learning effects. B) Experience curve. C) Core competencies. D) Global web. E) Value creation activities. Show Answer Correct Answer: B) Experience curve. 17. How can an international company protect itself against currency changes? A) Hedging (the use of futures, options, and/or currency-hedged funds. B) Diversification globally and investing in countries with conservative currency management. C) Transacting in your own currency, e.g. demand payment in US$. D) All of the above. Show Answer Correct Answer: D) All of the above. 18. Language, family, religion, customs, traditions, and food refer to which factor of the international business environment? A) Geographic. B) Economic. C) Political and legal. D) Cultural and social. Show Answer Correct Answer: D) Cultural and social. 19. What strategies can businesses employ to navigate foreign regulatory environments? A) Ignore local regulations and operate as usual. B) Conduct thorough research, engage local legal experts, and adapt business practices to comply with regulations. C) Only focus on domestic regulations. D) Rely on the home country's regulations to guide international operations. Show Answer Correct Answer: B) Conduct thorough research, engage local legal experts, and adapt business practices to comply with regulations. 20. Which of the following is a tariff? A) A discount on goods or services. B) An added tax on goods and services. C) A coupon on goods and services. D) A stop on goods and services. Show Answer Correct Answer: B) An added tax on goods and services. 21. What are the key elements of an effective international marketing strategy? A) Focus solely on social media marketing. B) Ignore local regulations and laws. C) Use a one-size-fits-all approach for all markets. D) Key elements include market research, cultural adaptation, marketing mix adaptation, compliance with regulations, and strategic partnerships. Show Answer Correct Answer: D) Key elements include market research, cultural adaptation, marketing mix adaptation, compliance with regulations, and strategic partnerships. 22. French managers are expected to have a higher level of knowledge about the content they manage compared to American managers. A) TRUE. B) FALSE. C) All the above. D) None of the above. Show Answer Correct Answer: A) TRUE. 23. To official stop trading with another country A) Embargo. B) Turnkey projects. C) Licensing. D) Customs. Show Answer Correct Answer: A) Embargo. 24. A set of principles that establishes ethical standards for employees and business. A) Global code of conduct. B) Ethics in international business. C) Professional code. D) Ethics. Show Answer Correct Answer: A) Global code of conduct. 25. The negotiating team should include members in each of the following areas except ( ). A) Commercial. B) Techinical. C) Financial. D) Psychological. Show Answer Correct Answer: D) Psychological. ← 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 10Class 11 Business Studies Chapter 10 International Business Quiz 11 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books