This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 10 International Business – Quiz 98 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 10 International Business Quiz 98 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What is one big change in USMCA compared to NAFTA? A) Eliminates all tariffs on all products. B) Boosts oil exports to Mexico. C) Requires at least 75% of auto parts to be made in North America. D) Eliminates intellectual property rights. Show Answer Correct Answer: C) Requires at least 75% of auto parts to be made in North America. 2. When a firm has a strategic goal of pursuing a low cost strategy on a worldwide scale, the firm should follow a(n) ..... strategy. A) Global standardization. B) Localization. C) International. D) Customization. Show Answer Correct Answer: A) Global standardization. 3. Pre-shipment Finance refers to the credit given to producer to: A) Pay shipping charges. B) Pay shipping duties. C) To purchase raw material. D) All of these. Show Answer Correct Answer: C) To purchase raw material. 4. Which organization is responsible for policingthe world trading system? A) The IMF. B) The United Nations. C) The WTO. D) The World Bank. Show Answer Correct Answer: C) The WTO. 5. Which is not a factor of production? A) Trade. B) Land. C) Capital. D) Entrepreneur. Show Answer Correct Answer: A) Trade. 6. The value of a currency in one country compared with the value of another is called the ..... A) Balance of payments. B) Exchange rate. C) Inflation rate. D) Currency. Show Answer Correct Answer: B) Exchange rate. 7. A tax on a good imported into a country. A) Tarriff. B) Translate. C) Negotiate. D) Embargo. Show Answer Correct Answer: A) Tarriff. 8. What are the potential risks and challenges associated with conducting international business? A) Cultural differences, legal and regulatory issues, currency fluctuations, and political instability. B) Technological advancements and global competition. C) Environmental sustainability and corporate social responsibility. D) Language barriers and communication issues. Show Answer Correct Answer: A) Cultural differences, legal and regulatory issues, currency fluctuations, and political instability. 9. What are the advantages of investing in foreign markets? A) Advantages of investing in foreign markets include diversification, access to growth opportunities, potential for higher returns, and currency diversification. B) Guaranteed profits without risk. C) Limited investment choices. D) Higher taxes on foreign investments. Show Answer Correct Answer: A) Advantages of investing in foreign markets include diversification, access to growth opportunities, potential for higher returns, and currency diversification. 10. Starbucks is a A) Multidomestic company. B) Global company. C) Domestic company. D) None of these. Show Answer Correct Answer: B) Global company. 11. ..... is a quota on trade imposed by the exporting country, typically at the request of the importing country's government A) Voluntary trade restraint. B) Anti-dumping policies. C) Ad valorem tariffs. D) Export tariffs. Show Answer Correct Answer: A) Voluntary trade restraint. 12. Identify the theory that supports the view that in some cases countries export for the reason that the world market can support only a limited number of firms. A) Heckscher-Ohlin theory. B) Smith's theory. C) Ricardo's theory. D) New trade theory. Show Answer Correct Answer: D) New trade theory. 13. One or more nation(s) halt(s) the export of a product to another nation A) Quotas. B) Tariffs. C) Embargo. D) Balance of Payments. Show Answer Correct Answer: C) Embargo. 14. Where is the headquarter of the WTO? A) New York. B) Geneva. C) Barcelona. D) Paris. Show Answer Correct Answer: B) Geneva. 15. Which of the following best describes licensing in international business? A) The owner of an asset gives a foreign party the right to use the asset in exchange for royalties. B) The owner of a business sells the entire business concept to a foreign party. C) A company merges with a foreign company to expand operations. D) A company provides only advertising support to a foreign party. Show Answer Correct Answer: A) The owner of an asset gives a foreign party the right to use the asset in exchange for royalties. 16. According to the material, when is domestic expansion usually preferable to foreign expansion? A) When the domestic opportunity is comparable to the foreign one. B) When the firm has no international experience. C) When the firm wants to avoid technological innovation. D) When the firm is focused on local branding only. Show Answer Correct Answer: A) When the domestic opportunity is comparable to the foreign one. 17. Ford Motor Company is based in Detroit, Michigan. It also has offices in Germany, England, and China. Which of the following is Ford's home country? A) Germany. B) England. C) China. D) United States. Show Answer Correct Answer: D) United States. 18. The trade theory that premises a country's wealth is measured by its holdings of treasure, usually in gold, is known as ..... A) Bullionism. B) Mercantilism. C) The Porter Diamond. D) Monetarism. Show Answer Correct Answer: B) Mercantilism. 19. Why is studying international business important in today's world? A) To focus only on domestic competition. B) To adapt to a fast-evolving global environment. C) To avoid foreign market involvement. D) None of the above. Show Answer Correct Answer: B) To adapt to a fast-evolving global environment. 20. Who is the First Deputy Managing Director of IMF A) George W. Bush. B) Geoffrey W.S. Okamoto. C) Geregory D'suza. D) Geogre Willson. Show Answer Correct Answer: B) Geoffrey W.S. Okamoto. 21. A bank guarantees payment to a seller in an international transaction upon presentation of proper documentation, even if the buyer defaults. This instrument is called ..... ? A) Bill of Lading. B) Commercial Invoice. C) Letter of Credit. D) Certificate of Origin. Show Answer Correct Answer: C) Letter of Credit. 22. International business is more complex than domestic business. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 23. How does culture affect accounting and finance functions? A) By influencing investment strategies. B) By determining tax regulations and accounting standards. C) By affecting marketing strategies and customer relations. D) By regulating supply chain management. Show Answer Correct Answer: B) By determining tax regulations and accounting standards. 24. How does culture influence Human Resources management? A) By dictating the technological tools used in HR processes. B) By shaping recruitment practices, training methods, and employee relations. C) By defining the company's financial reporting standards. D) By regulating the production techniques. Show Answer Correct Answer: B) By shaping recruitment practices, training methods, and employee relations. 25. Which of the following is NOT an International Business activity? A) Exporting and Importing. B) Licensing and Franchising. C) International Investment. D) Domestic Manufacturing. Show Answer Correct Answer: D) Domestic Manufacturing. ← 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