CBSE Questions for Class 11 Commerce Business Studies International Business Quiz 1 - MCQExams.com

White coloured bill of entry is for _________________.
  • Warehousing
  • Exbond Bill of Entry
  • Home Consumption
  • None of the above
On reaching foreign shores _______________ duty is levied on the products.
  • export 
  • custom 
  • trade 
  • free trade 
In direct import/export, firms used middlemen to contact overseas buyers/sellers.
  • True
  • False
Importing refers to bringing goods from domestic country to foreign country.
  • True
  • False
Host Country Nationals are also known as __________.
  • Expatriates
  • Local Nationals
  • Repatriation
  • International management
International trade takes place when buyers find foreign markets cheaper to buy in and sellers find them more profitable to dispose of their products than the domestic market.
  • True
  • False
High cost of packaging are needed by _______ .
  • heavy Items
  • small Items
  • intangible Items
  • transport services
Under the chairmanship of V.L.D'Souza, the Export Promotion Committee was setup in the year ________________.
  • 1957
  • 1962
  • 1964
  • 1966
Mumbai and neighbouring areas in Maharashtra are more involved with the production of coffee.
  • True
  • False
Exporting refers to sending goods from domestic country to foreign country.
  • True
  • False
The franchiser allows the franchisee to use his _______under a license.
  • Trademark
  • Company seal
  • Company goods
  • Company management
Globalisation of financial services is being promoted by _____________.
  • World Trade Organisation
  • International Finance Corporation
  • International Bank for Reconstruction and Development
  • International Monetary Fund
The franchisee does not enjoy exclusive rights in his territory.
  • False
  • Partly false
  • True
  • Partly true
Franchising is the practice of using another firms _________.
  • Workers
  • Property
  • Successful business model
  • All of the above
LDC stands for_____________.
  • Least developed countries
  • Less demanding countries
  • Both a & b
  • None of the above
________ can also be described as any form of association which implies collaboration for more than a transitory period.
  • Joint venture
  • Licensing
  • Contract Manufacturing
  • Wholly Owned Subsidiaries
Which is true as far as a Joint Venture is concerned?
  • The dual ownership arrangement may not lead to conflicts, resulting in battle for control between the investing firms.
  • Foreign firms entering into joint ventures does not share the technology and trade secrets with local firms.
  • Joint venture is a very common strategy for entering into foreign markets.
  • All of the above
Consequent to the decision in ______ round, the GATT was transformed into World Trade Organisation (WTO).
  • Uruguay
  • Torquay
  • Annecy
  • Geneva
Which of the following is not the objective of the WTO?
  • To improve the standard of living of peoples of the member countries.
  • To enlarge production and trade of goods.
  • To protect environment.
  • To improve the Balance of Payment situation of the member countries.
_____ is a member driven rule-based organisation in the sense that all the decisions are taken by the member governments on the basis of a general consensus.
  • IMF
  • GATT
  • World Bank
  • WTO
Identify the function(s) of WTO.
  • WTO acts as a dispute settlement body.
  • Supervising on a regular basis the operations of the revised Agreements and Ministerial declarations relating to goods, services and Trade Related Intellectual Property Rights (TRIPS).
  • Laying down a commonly accepted code of conduct.
  • All of the above
Which of the following body is not related to the WTO?
  • Dispute Settlement Body
  • Trade Policy Review Body
  • Council of trade in goods
  • Exchange Rate Management Body
Benefits of joint ventures does not include ______________________.
  • access to new markets and distribution networks
  • sharing of risks and costs with a partner
  • access to greater resources, including specialized staff, technology and finance
  • the partners have different objectives for the joint venture
Under the WTO agreements, countries cannot normally discriminate between their trading partners. This clause is popularly known as ____________.
  • Host treatment
  • Predictability
  • Most-Favoured-Nation (MFN)
  • Doha Development Agenda
Which of the following statements is not true about the WTO?
  • WTO is a permanent organisation.
  • Uruguay round gave the birth to the WTO.
  • Ministerial Conference is the highest policy making body of the WTO.
  • WTO was officially constituted on 1 January 1991.
_____ makes it possible to execute large projects requiring huge capital outlays and manpower.
  • Wholly Owned Subsidiaries
  • Franchising
  • Joint venture
  • Contract manufacturing
Identify the limitation(s) of Contract Manufacturing.
  • There is no way hiring company can force the manufacturer not to enter into a contract with a competitor.
  • The hiring company is also likely to lose intellectual property rights to the design idea.
  • The hiring company may end up not having the products when needed.
  • All of the above
Success in a joint venture depends on comprehensive research and a detailed analysis of aims and objectives.
  • True
  • False
Domestic business mostly deals in single currency whereas international business deals in multiple currencies.
  • True
  • False
Exposure to foreign investment risks is nil or much lower in foreign trade. This is because of which of the following advantages of exporting/importing?
  • It is less complex an activity.
  • Exporting/importing does not require much of investment in foreign countries.
  • Firms do not directly deal with overseas customers.
  • All of the above
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