5 Questions
What is the difference between import and export in international business?
Import means selling products or services from one nation to another, while export means selling products or services made in one country to another.
What is the relationship between franchising and licensing in international business?
Franchising and licensing have a close relationship as the parent firm (the franchisor) grants permission to other businesses (the franchisees) to do business in a predetermined manner using the franchisor's brand and products.
In which industries are franchises commonly found?
Franchises are common in restaurants, hotels, and rental services.
What are the qualifications for a business to engage in licensing for global distribution?
A business is qualified for licensing if it standardizes its products and has complete ownership rights.
What is the significance of imports and exports in international business?
Imports and exports are the first international business activity and the easiest way for a company to enter a foreign market.
Test your knowledge of international business with this quiz covering import, export, franchising, and licensing. Learn about the forms of international business and understand the basics of entering foreign markets.
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