Chapter 01: Introduction to International Bussiness
Q1.Which of the following is not a major objective to engage in international business?
To tke mre risks CorrectAnswer
Q2.The ____ is dominating economy and the international financial system
USA Correct Answer
Q3.The post____period witnessed an unexpected expansion of national companies into international or multinational companies
World War II Correct Answer
Q4.INCO terms were introduced by ______
International Chamber of Commerce (ICC) Correct Answer
Q5.CIP stands for
Carriage Insurance Paid Correct Answer
Q6.INCO terms is a short form for "____ " terms
International Commerce Correct Answer
Q7.FOB stands for
Free On Board Correct Answer
Q8.All business transactions - private & governmental – that involve two or more countries is called as ___
International Business Correct Answer
Q9.Factors responsible for the difference between Domestic and International Business are
Socio-Cultural Environment
Political & Legal Environment
Economic Environment
All of These Correct Answer
Q10.The objective of ____ is to simplify and clarify the international trade terms
INCO terms Correct Answer
Chapter 02: International Trade Theories
Q1.When companies want to go international,_____ theories can guide them to be careful and prepared
international trade Correct Answer
Q2.Countries which are rich in labour will export labour intensive goods and countries which have plenty of capital will export capital-intensive products. This theory was put forth by
Heckscher- Ohlin Correct Answer
Q3.Country A produces 20 units of Commodity X and 30 units of Commodity Y . Country B produces 40 units of Commodity X and 10 units of Commodity Y. If both the country specialise as per Absolute Advantage what will be the total production?
140 Units Correct Answer
Q4.A country should specialize in producing and exporting those products in which it has a comparative, or relative cost, advantage. This theory was put forth by
Ricardo Correct Answer
Q5.Country A produces 20 units of Commodity X and 30 units of Commodity Y . Country B produces 40 units of Commodity X and 10 units of Commodity Y .Which country has an Absolute Advantage in producing Commodity X?
Country B Correct Answer
Q6.The _____ Model uses a more proactive approach in considering factors
Diamond Correct Answer
Q7.Advanced countries lose their exports initially to developing countries and subsequently to less developed countries and eventually become importers. This theory is called as _ theory
Product life cycle Correct Answer
Q8.Country A produces 20 units of Commodity X and 30 units of Commodity Y . Country B produces 10 units of Commodity X and 20 units of Commodity Y .What is cost efficiency of Country A in producing Commodity X?
2 Correct Answer
Q9.Countries should find out what they can produce more efficiently (which really means cheaper, better and faster), and then specialise in what they do best . This theory was put forth by
Adam Smith Correct Answer
Q10.Country A produces 20 units of Commodity X and 30 units of Commodity Y . Country B produces 10 units of Commodity X and 20 units of Commodity Y .Which country has an Comparative Advantage in producing Commodity X?
Country A Correct Answer
Q11.The major reasons for which trade influences the income distribution are 1) Resources are non-transferable immediately and without incurring costs from one industry to another and 2) Industries use different factors. This theory was put forth by
Samuelson and Jones Correct Answer
Chapter 3: Introduction to International Bussiness
Q1.Which of the following is not a part of cultural Environment?
Public Correct Answer
Q2.Poor Urban Population is represented by the acronym
PUPPIES Correct Answer
Q3.Which of the following is not a part of Demographic Dynamics?
demand Correct Answer
Q4.Which of the following is not a part of Micro Environment?
Mission Correct Answer
Q5.Which of the following is not a part of Internal Environment?
Customers Correct Answer
Q6.Which of the following is not a part of Macro Environment?
Public Correct Answer
Q7.The ____ factors refer to natural resource such as forest and mineral wealth, weather and climatic conditions
Ecological Correct Answer
Q8.What are the heritages that form the bases for the majority of the legal systems of the world?
Common Law
Civil law
Islamic Law
All of these Correct Answer
Q9.Major levels of the environment are
Internal Environment
Micro environment
Macro environment
All of these Correct Answer
Q10.The ____ includes the factors that influence a country's attractiveness for international business firms
economic environment Correct Answer
Chapter 04: Globalization of International Business
Q1.A firms accept a world wide approach to marketing and its operations become global. This is called as ___ orientation
Geocentric Correct Answer
Q2.Which of the following is not a part of nontariff barriers?
tax on import Correct Answer
Q3.Tax imposed by a government on goods entering at its borders is called as ___
tariff Correct Answer
Q4.A firm considers that the products, marketing strategies and techniques applicable in the home market are equally so in the overseas market as well. This is called as ___ orientation
Ethnocentric Correct Answer
Q5.Government laws, regulations, policies, conditions, restrictions, or specific requirements, and private sector business practices or prohibitions that protect the domestic industries are called as ____
nontariff barriers Correct Answer
Q6.Risk of war or enmity between the home country and host country is called as ___
Country Risk Correct Answer
Q7.The objective of trade barriers is to
protect the domestic industries from foreign competition. Correct Answer
Q8.The economic process of transferring property, from public ownership to private ownership is called as ___
Privatization Correct Answer
Q9.Risk of political party having different ideology coming to power is called as ___
Political risk Correct Answer
Q10.A policy of protecting the domestic businesses from foreign competition by applying tariffs, import quotas, or many types of other restrictions is called as ___
Protectionism Correct Answer
Q11.The non-discriminatory treatment of all signatory countries to the WTO (World Trade Organization) with the same duty rate for purposes of imports is called as ___
Most Favored Nation Correct Answer
Q12.The process of relaxation from government control is called as ___
Liberalization Correct Answer
Q13.Risk of depreciation of home currency for importers is called as ___
Foreign Exchange Rate risk Correct Answer
Q14.Import quota is an example of
nontariff barriers Correct Answer
Q15.An organization doing business in more than one country is called as ___
Multinational corporation Correct Answer
Chapter 5: International Trade Blocks
Q1.A co-operative union or group of countries within a specific geographical boundary. RTB protects its member nations within that region from imports from the non-members is called as Regional trading bloc Correct Answer
Q2.An organisation established on August 8, 1967, in Bangkok (Thailand).by Singapore, Brunei, Malaysia, Philippines, Thailand and Indonesia is
ASEAN Correct Answer
Q3.International Trade agreements help in
enhancing the production
optimum utilization of resources
raising the standard of living
All of these Correct Answer
Q4.An organisation established on 1 January 1994 with Canada, Mexico, and the United States of America as members is
NAFTA Correct Answer
Q5.India, Bangladesh, Bhutan, Pakistan, the Maldives, Nepal and Sri Lanka established ____on Dec 8, 1985
SAARC Correct Answer
Q6.A system whereby preferential tariff treatment is granted on a non-reciprocal and non-discriminatory basis by most developed countries to exports from developing countries is called as ___
Generalized System of Preferences Correct Answer
Q7.India became a ______ of ASEAN in 1992
sectoral dialogue partner Correct Answer
Q8.Which is a regional bloc with the largest number of member states?
EU Correct Answer
Q9.An Agreement on economic co - operation for promotion of trade by providing preferential trading among developing countries
Global System of Trade Preferences Correct Answer
Q10.SAARC stands for South _____ Association for Regional cooperation
Asian Correct Answer
Chapter 6: Internatinal Trade Organization
Q1.An international reserve asset introduced by the IMF in 1969 was
ADR Correct Answer
Q2.After the conclusion of _______ the leaders decided to set up several international organisations
Second World War in 1945 Correct Answer
Q3.Which is the international organsiation that has responsibility for promoting industrialization throughout the developing world, in cooperation with its Member States?
UNIDO Correct Answer
Q4.Which of the following is not a part of Functions of WTO?
Giving financial aid to poor countries Correct Answer
Q5.Which is the international organsiation Established in 1964 with the aim at the development-friendly integration of developing countries into the world economy?
UNCTAD Correct Answer
Q6.Which is the international organsiation established in 1945 with the main purpose to develop an exchange rate system?
IMF Correct Answer
Q7.Which is the voice of world business, championing the global economy as a force for economic growth, job creation and prosperity?
ICC Correct Answer
Q8.Which is the single global international organization dealing with the rules related to international trade?
WTO Correct Answer
Q9.The general objectives of international organisations are to
encourage trade and cooperation Correct Answer
Q10.An exchange rate system was evolved and followed up to 1971by __
IMF Correct Answer
Q11.International Bank for Reconstruction and Development (IBRD) is known as
World Bank Correct Answer
Q12.Which is the multilateral development finance institution dedicated to reducing poverty in Asia and the Pacific?
ADB Correct Answer
Q13.The GATT’s main purpose was to
reduce barriers to international trade Correct Answer
Chapter 07: Forein Trade Policy
Q1.Rewards for export of notified goods to notified markets shall be payable under ____
EPCG
Merchandise Exports from India Scheme (MEIS) Correct Answer
Q2.Under which scheme a certain amount of duties of Customs and Central Excise remitted or paid by Government on the exportation of the commodities
Duty Drawback Scheme Correct Answer
Q3.India’s policy in the past was
Export promotion and import substitution Correct Answer
Q4.A geographical region that has economic and other laws that are more free-market-oriented and liberal than a country's typical or national laws is called as___
Special Economic Zone (SEZ) Correct Answer
Q5.Which scheme has the objectives of Identifying the priorities of research relevant to the Department of Commerce?
Market Access Initiative Correct Answer
Q6.Which scheme provides an outlay for development of export infrastructure that will be distributed to the States?
ASIDE Correct Answer
Q7.Which scheme allows import of capital goods subject to an export obligation equivalent to 8 times of duty saved amount to be fulfilled in 8 years?
EPCG Correct Answer
Q8.Now India is following _____ policy
free trade Correct Answer
Q9.Which scheme provides for rewards to all Service providers?
SEIS Correct Answer
Q10.Business leaders who have excelled in international trade and have successfully contributed to country’s foreign trade are caled as ____
Status Holders Correct Answer
________________________________
All business
Transactions private and governmental that involve two or more countries is
called as
International Business
A situation where a
government does not attempt to influence through quotas or duties what its
citizens can buy from another country is called as
Free Trade
Reward for export of notified good to notified markets shall be payable under
Merchandise Exports from India Scheme (MEIS)
The ability of a
country to achieve sustained high rate of growth in gross domestic product
(GDP) per capital is called as
Fob stand for :- Free On Board
Which scheme has the
objectives of identifying the priorities of research relevant to the department
of Commerce?
MAI (MARKET ACCESS
INITIATIVE)
The general objectives
of international organizations are to
Encourage trade and cooperation
The major reasons for which trade influences the income
distribution are 1. Resources are nontransferable immediately and without
incurring costs from one industry to another and 2. Industries use different
factors. This theory was put forth by
India, Bangladesh, Bhutan,
Pakistan, the Maldives, Nepal and Sri Lanka established ____ on Dec 8, 1985
SAARC
When companies want
to go international, ____theories can guide them to be careful and prepared.
International Trade
CIP Stands for:
Carriage and Insurance Paid To (CIP)
The Post____period witnessed an unexpected expansion of
national companies into international or multinational companies.
Worldwar I
World War II
The___ is dominating economy and the international financial system
Gatt
Ibrd
Usa
The quantity of goods
of a specific kind or class that the government of importing country will
permit to be imported is called as___
Quota
An international
reserve asset introduced by the IMF in 1969 was
Special Drawing Rights (SDR)
The ___factors refer
to natural resource such as forest and mineral wealth, weather and climatic
conditions.
Ecological
Which scheme provides
an outlay for development of export infrastructure that will be distributed to
the states?
Assistance to states for Developing Export
Infrastructure and Allied Activities (ASIDE).
The economic process
of transferring property, from public ownership to private ownership is called
as ___
Privatization
Risk of war or enmity
between the home country and host country is called as
Country Risk
Import quota is an example of
Country should find
out what they can produce more efficiently (Which really means cheaper, better
and faster) and then specialise in what they do best. This theory was put forth
by.
India’s policy in the past was
After the conclusion
of ___ the leaders decided to set up several international organisations
Second World War in 1945
Which scheme allows
import of capital goods subject to an export obligation equivalent to 8 times
of duty saved amount to be fulfilled in 8 years?
EPCG
Major level of the environment are
Country A produces 20 units of Commodity X and 30 units of
Commodity Y. Country B produces 10 units of Commodity X and 20 units of
Commodity Y. What is cost efficiency of Country A in producing Commodity X?
Government laws, regulations, policies, conditions,
restrictions, or specific requirements and private sector business practices or
prohibitions that protect the domestic industries are called as
the probability of not getting what one expects is called as
which of the following is not a part of Micro Environment?
Which is the
international organisation established in 1945 with the main purpose to develop
an exchange rate system?
IMF
Which is the voice of world business. Championing the global
economy as a force for economic growth, job creation and prosperity?
Which of the following is not a part of Internal
Environment?
A firm considers that the products, marketing strategies and
techniques applicable in the home market are equally so in the overseas market
as well. This is called as___orientation.
Which of the following is not a part of the Functions of
WTO?
The non- discriminatory treatment of all signatory countries
to the WTO (World Trade Organization) with the same duty rate for purposes of
imports is called as___
An organisation
established on August 8, 1967, in Bangkok (Thailand). By Singapore, Brunei,
Malaysia, Philippines, Thailand and Indonesia is
The Association of Southeast Asian Nations, or ASEAN
An Organisation established on 1 January 1994 with canada, Mexico, and the United States of America as members is
The objective of trade barriers is to
A firm adopts to overseas markets and attempts to organize
its international marketing activities on a country to country basis. This is
called as ___ orientation.
Now India is following ___ policy.
Advanced countries lose their exports initially to
developing countries and subsequently to less developed countries and
eventually become importers. This theory is called as ___ theory
A Geographical region that has economic and other laws that
are more free market oriented and liberal than a country’s typical or national
laws is called as ___
Which scheme provides for rewards to all Service providers?
A country should specialize in producing and exporting those
products in which it has a comparative or relative cost, advantage. This theory
was put forth by
INCO terms is a short form for “___”terms.
Risk of depreciation of home currency for importers is called
as _____
Tax imposed by a government on goods entering at its borders
is called as____
A system whereby preferential tariff treatment is granted on
a non-reciprocal and non-discriminatory basis by most developed countries to
exports from developing countries is called as _____
A policy of
protecting the domestic businesses from foreign competition by applying
tariffs, import quotas or many types of other restrictions is called as____
Protectionism
Which is the
international organization Established in 1964 with the aim at the developing
countries into the world economy?
United Nations Conference on Trade and Development (UNCTAD)
Under which scheme a certain amount of duties of Customs a
Central Excise remitted or paid by Government on the exportation of the commodities.
Which of the following is not a part of nontariff barriers?
Tax on Import
International Bank for Reconstruction and Development (IBRD)
is known as
India became a _____
of ASEAN in 1992.
sectoral dialogue partner
The general objectives of international organizations are to
Risk of Default by
Debtors is called as ___
Credit Risk
Firms accept a worldwide approach to marketing and its
operations become global. This is called as ____ orientation.
A firm adopts to overseas markets and attempts to organize
its international marketing activities on a country to country basis. This is
called as ___ orientation.
Which of the
following is not a part of Macro Environment?
Public
Which of the following is not a part of Functions of WTO?
Which is the
multilateral development finance institution dedicated to reducing poverty in
Asia and the Pacific?
ADB
SAARC stands for
South Asian Association for Regional Cooperation
Business leaders who have excelled in international trade
and have successfully contributed to country’s foreign trade are called as ____
The objective of ____ is to simplify and clarify the
international trade terms.
The ___ includes the
factors that influence a country’s attractiveness for international business
firms.
Economic Environment
Country A produces 20 units of commodity X and 30 units of
commodity Y. Country B produces 40 units of commodity X and 10 units of
Commodity Y. If both the country specialize as per Absolute Advantage what will
be the total Production?
An Exchange rate system was evolved and followed up to 1971
by
What are the heritages that form the bases for the majority
of the legal systems of the world?
All of them.
The growing economic Interdependence of countries worldwide
through increasing volume and variety of cross border transactions in goods and
services and of international capital flows, and also through the more rapid
and widespread diffusion of technology is called as____
International Trade
agreements help in____
enhancing the production
optimum utilization of resources
raising the standard of living
All of these
Country A produces 20 units of Commodity X and 30 units of
Commodity Y, Country B produces 10 units of Commodity X and 20 units of
Commodity Y. Which country has an Comparative Advantage in producing Commodity
X?
Factors responsible for the difference between Domestic and
International Business are
Which is a regional bloc with the largest number of member
states?
INCO terms were introduced by____
A co-operative union
or group of countries within a specific geographical boundary. RTB protects its
member nations within that region from imports from the non- members is called
as ____
Regional Trading Bloc
Countries which are rich in labour will export labour
intensive goods and countries which have plenty of capital will export capital-intensive
products. This theory was put forth by.
Which of the following is not a major objective to engage in
international business?
An organization doing business in more than one country is
called as _____
Poor Urban Population is represented by the acronym
Which is the international organsiation that has
responsibility for promoting industrialization throughout the developing world
in cooperation with its member states?
An Agreement on Economic Co-operation for promotion of trade
by providing preferential trading among developing countries.
A firm accepts a regional marketing policy covering a group
of countries which have comparable market characteristics. This is called as
_____orientation.
The GATT’s main purpose was to
Which of the following is not a part of Demographic
Dynamics?
The Process of relaxation from government control is called
as_____
Free trade is a situation where a ____
Which is the single global international organization
dealing with the rules related to international trade?
The ____Model uses a more proactive approach in considering
factors.
Which of the following is not a part of cultural Environment?
Risk of political
party having different ideology coming to power is called as___
Political
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