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Intro To Business Ch3 II
Test Description: Good Luck!
Instructions: Answer all questions to get your test result.
1) Which of the following is an example of a global strategy?
A
All are examples
B
Pizza Hut putting squid on pizzas in Japan
C
Coca-Cola keeping their recipe the same across countries
D
Refraining from showing female models in underwear ads in Muslim countries
2) An agreement between two companies to share a business project is called.
A
joint venture
B
licensing
C
proprietorship
D
franchising
3) This group helps maintain an orderly system of world exchange rates.
A
European Union
B
World Bank
C
International Monetary Fund
D
World Trade Organization
4) Items bought from other countries are _______.
A
quotas
B
Imports
C
Exports
D
tariffs
5) A tax that a gov't places on certain imported products.
A
Tariffs
B
embargoes
C
interest trates
D
quotas
6) Occurs when a country sells more than it buys.
A
Trade Neutrality
B
Trade Deficit
C
Trade Surplus
D
Debt
7) A limit on the quantity of a product that may be imported or exported.
A
embargo
B
barrrier
C
absolute advantage
D
quota
8) Exists when a country is the only one that can produce something
A
absolute advantage
B
limited advantage
C
trade deficit
D
imports
9) The cost of using someone else's money is ______.
A
quota
B
surplus
C
tariff
D
interest rate
10) Completely prohibiting the import or export of a product.
A
absolute advantage
B
comparative advantage
C
embargo
D
tariff
11) Items sold to other countries.
A
exports
B
embargo
C
imports
D
tariff
12) Exists when a country specializes in the production of a good or service at which it is relatively more efficient.
A
Comparative Advantage
B
Negative Advantage
C
Absolute Advantage
D
False Advantage
13) Occurs when a country buys more than it sells.
A
Trade Deficit
B
Benefits
C
Trade Surplus
D
Taxes
*select an answer for all questions
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