POBF 1.03 Question Preview (ID: 31304)


Understand Business In The Global Marketplace. TEACHERS: click here for quick copy question ID numbers.

Which statement is true about balance of payment?
a) favorable when a company pays more money out of it than it receives in it.
b) favorable when a company receives more money into it than it pays out.
c) favorable when a country pays more money out of it than it receives in it.
d) favorable when a country receives more money into it than it pays out.

While conducting business in Japan, Shari adjusted her gift-giving practices to accommodate her Japanese business-partners. Which main factor of the international business environment did Shari consider?
a) Cultural influences
b) Economic development
c) Geography
d) Political and legal concerns

United States has become globally known for its production of wheat more resourcefully. It can produce the product with less human resources. This is an example of what type of ADVANTAGE?
a) Absolute
b) Comparative
c) Competitive
d) Dual

An organization assisted two countries on settling a trade disagreement on the amount of bananas to be traded. This action is an example of assistance provided by which international trade organization?
a) International Monetary Fund
b) Joint Venture
c) World Bank
d) World Trade Organization

A European team has the right to use on its merchandise an American company’s emblem. This is an example of which global marketplace main entry mode?
a) Chain
b) Franchising
c) Joint venture
d) Licensing

Citizens of some countries have limited access to goods and services due to international trade restrictions imposed by its government. Which main factor of the international business environment is this information about these countries classified?
a) Cultural influences
b) Economic development
c) Geography
d) Political and legal concerns

If a country on the average exports goods valued at 27.5 billion and imports other goods valued at 23.1 billion, this country has a favorable balance of trade because it:
a) exports less than it imports.
b) exports more than it imports.
c) imports less than it exports.
d) imports more than it exports.

Italy is able to provide various natural resources from the Mediterranean due to its oceanfront. Which main factor of the international business environment is this information about Italy classified?
a) Cultural influences
b) Economic development
c) Geography
d) Political and legal concerns

China has become globally known for its production at a lower cost in the textile industry. It is relied upon by many other countries for textiles. This is an example of what type of ADVANTAGE?
a) Absolute
b) Comparative
c) Competitive
d) Dual

How are balance of trade and balance of payments alike?
a) They measure trade relations between countries.
b) They measure production of goods for a country.
c) They only measure the imports of a country.
d) They only measure the exports of a country.

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