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