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