BML Semester Exam 3: Question Preview (ID: 12038)

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Most business transactions take place
a) entirely within one country.
b) between two countries.
c) between three or more countries.
d) between large corporations.

A positive balance of trade means that
a) a country sends out more money than it brings in.
b) a country brings in more money than it sends out.
c) a country imports more than it exports.
d) a country exports more than it imports.

Selling the right to use some intangible property for a fee or royalty is called
a) licensing.
b) a joint venture.
c) franchising.
d) a free-trade agreement.

Which of these is a good source for researching an international market?
a) United States Department of State
b) all of these
c) companies that specialize in international business research
d) businesses that are located in a particular market.

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

Goods shipped into a country are called
a) imports.
b) exports.
c) domestic trade.
d) interstate trade.

The internet
a) requires individual businesses and customers to invest in large amounts of infrastructure.
b) restricts trade to only advanced nations.
c) allows businesses to sell their products almost anywhere in the world.
d) makes international communications more expensive.

Which of these has the most impact on location of a manufacturing business?
a) Convenience to customers
b) Easy-to-remember address
c) Visibility to customers
d) Ease of access to shipping

Which of these is not a function of government in business?
a) prohibit unfair trade practices
b) loan money to businesses for startup or expansion
c) ensure businesses earn a profit
d) create and enforce environmental regulations

Which organization enforces workplace safety regulations?
a) Environmental Protection Agency
b) Occupational Safety and Health Administration
c) Institute for Business and Home Safety
d) National Injury Prevention Council

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