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GB Final MC Part 1
Test Description: 1-20
Instructions: Answer all questions to get your test result.
1) A global dependency exists when
A
massive crop failures require buying food from another country
B
all of these
C
a country buys tools from another country because it does not have the technology to make the tools
D
doctors travel to another country to provide healthcare because there is a shortage of doctors in that country
2) All of the following are benefits of international business except
A
decreased competition
B
increased sources of raw materials
C
improved political relationships
D
expanded businesses opportunities
3) Business activities that occur within one country are called
A
domestic business
B
international business
C
foreign trade
D
free trade
4) An example of a trade barrier would be
A
efforts by a government to encourage exporting among businesses in its country
B
consumers who prefer to buy products from domestic companies rather than foreign companies
C
a limit on the number of foreign automobiles a country allows to be imported
D
a sales tax on products made and sold within a country
5) A cultural factor affecting international business activities would be
A
the availability of natural resources
B
family relationships
C
stability of the money supply
D
government policies toward business
6) International business most commonly affects consumers by creating
A
a greater variety of buying choices
B
fewer stores to shop in
C
fewer buying decisions
D
a change in taxes
7) Economics is the study of how
A
none of these
B
limited resources are used to satisfy unlimited wants and needs
C
individuals make decisions about buying products
D
decisions are made using six steps
8) After you take action on a choice in the decision-making process, it is important to review the decision because
A
all of these
B
you may have made an error in defining the original problem
C
changed circumstances may require a change in decision
D
a different decision may need to be made
9) Private property, profit motive, and a free, competitive marketplace are characteristics of a
A
market economy
B
command economy
C
none of these
D
mixed economy
10) The unemployment rate is an indicator of a country's economic situation because
A
all of these
B
people not earning an income reduce the flow of money in circulation
C
a high unemployment rate can cause other people to lose their job
D
fewer goods and service are produced when there is high unemployment
11) As demand for a product increases, prices tend to
A
first decline, then rise
B
remain constant
C
fall
D
rise
12) Of the following choices, the one that is not a characteristic of a culture is that it is
A
learned
B
always written down
C
unifying
D
shared
13) High-context communication is typical in
A
Canada
B
the United States
C
Germany
D
Japan
14) In a culture with strong business and family ties
A
protecting a family member is sometime more important than a good business decision
B
several members of a family may work in the same business
C
family members are usually promoted first in a family-owned business
D
all of these
15) Member of a society are most likely to have good educational opportunities in
A
a developing country
B
an industrialized economy
C
none of these
D
a less-developed country
16) Of the following characteristics, the one that is not characteristic of a democratic system is that
A
individuals may travel freely to other countries
B
the economy is usually a command economy
C
individuals can build a small business into a very large business
D
individuals have the freedom to own and operate a private business
17) A multinational enterprise is not acting with social responsibility if it
A
installs anti-pollution controls more powerful than required by law
B
introduces new products that support dominant religious beliefs of the host country
C
hires host-country citizens and provides training
D
hires all employees from the home country labor force
18) Governments encourage and promote its country's exports primarily because
A
exports increase the country's international image and reputation
B
exports create jobs and foster economic prosperity
C
none of these
D
exports increase government revenues through selling export insurance
19) A tax that can be used as a trade barrier is the
A
value-added tax
B
import duty tax
C
excise tax
D
personal income tax
20) Protectionism occurs when
A
governments establish trade barriers
B
one company is granted a tax holiday
C
a country is granted most favored nation status
D
governments encourage international trade
*select an answer for all questions
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