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International Business Basics Quiz

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Questions and Answers

What is the primary need for the emergence of international business?

To promote local businesses exclusively
To facilitate global trade and economic growth (correct)
To eliminate all forms of competition
To restrict access to international markets

Which of the following is NOT a common feature of international business?

Global market reach
Exchange rate fluctuations
Cultural diversity
Limited geographical scope (correct)

What is the main concept of trade barriers?

To restrict imports or exports for various reasons (correct)
To encourage international collaboration
To simplify the trading process
To facilitate free trade

Which of the following is a type of tariff barrier?

<p>Import duties (D)</p> Signup and view all the answers

What factor does NOT typically affect international trade?

<p>The color of products (B)</p> Signup and view all the answers

Flashcards

International Business Concept

International business involves business activities that cross national borders.

Trade Barriers

Obstacles that governments create to restrict international trade.

Tariff Barriers

Trade barriers that use taxes on imported goods.

Non-Tariff Barriers

Trade barriers that aren't taxes on imports.

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Reasons for Trade Barriers

Governments use trade barriers to protect domestic industries, jobs, and national security.