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BML Semester Exam 3
Test Description: BML Semester Exam set 3
Instructions: Answer all questions to get your test result.
1) Most business transactions take place
A
between large corporations.
B
between three or more countries.
C
between two countries.
D
entirely within one country.
2) A positive balance of trade means that
A
a country sends out more money than it brings in.
B
a country exports more than it imports.
C
a country imports more than it exports.
D
a country brings in more money than it sends out.
3) Selling the right to use some intangible property for a fee or royalty is called
A
a free-trade agreement.
B
a joint venture.
C
franchising.
D
licensing.
4) Which of these is a good source for researching an international market?
A
all of these
B
United States Department of State
C
companies that specialize in international business research
D
businesses that are located in a particular market.
5) A complete ban on trade of a certain item or with a certain country is called a(n)
A
quota
B
tariff
C
embargo
D
free-trade zone
6) Goods shipped into a country are called
A
exports.
B
interstate trade.
C
domestic trade.
D
imports.
7) The internet
A
restricts trade to only advanced nations.
B
makes international communications more expensive.
C
allows businesses to sell their products almost anywhere in the world.
D
requires individual businesses and customers to invest in large amounts of infrastructure.
8) Which of these has the most impact on location of a manufacturing business?
A
Ease of access to shipping
B
Easy-to-remember address
C
Convenience to customers
D
Visibility to customers
9) Which of these is not a function of government in business?
A
ensure businesses earn a profit
B
loan money to businesses for startup or expansion
C
prohibit unfair trade practices
D
create and enforce environmental regulations
10) Which organization enforces workplace safety regulations?
A
Environmental Protection Agency
B
National Injury Prevention Council
C
Occupational Safety and Health Administration
D
Institute for Business and Home Safety
*select an answer for all questions
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