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International Business Knowledge Quiz

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Questions and Answers

What does international business involve?

Trade of goods and services within a single country

Trade of goods and services within a continent

Trade of goods, services, technology, capital, and/or knowledge across national borders (correct)

Trade of goods and services within a region

What is another term for international business?

Globalization (correct)

Nationalization

Regionalization

Localization

What do multinational companies need to do to conduct business overseas?

Create additional barriers between national markets

Bridge separate national markets into one global marketplace (correct)

Maintain separate national markets

Isolate national markets from global marketplace

What are the transactions of economic resources in international business?

Include capital, skills, and people for international production of physical goods and services Signup and view all the answers

What are the macro-scale factors that underline the trend of greater globalization?

Eliminating barriers to make cross-border trade easier and technological change Signup and view all the answers

What is the main focus of international business?

Trade of goods and services across national borders Signup and view all the answers

What is the term used for the process of bridging separate national markets into one global marketplace?

Globalization Signup and view all the answers

Which factor contributes to the trend of greater globalization by making cross-border trade easier?

Eliminating barriers to free trade Signup and view all the answers

What are the transactions of economic resources involved in international business primarily for?

International production of physical goods and services Signup and view all the answers

What technological developments contribute to the trend of greater globalization?

Communication, information processing, and transport Signup and view all the answers

Study Notes

International Business

Involves commercial transactions that take place across national borders, between two or more countries
Also known as global business or transnational business

Conducting Business Overseas

Multinational companies need to adapt to different cultural, political, and economic environments to conduct business overseas

Transactions of Economic Resources

Involve the exchange of goods, services, and ideas across national borders
Primarily for the purpose of earning profit

Macroeconomic Factors Driving Globalization

Improving transportation and communication systems
Reduction in trade barriers and tariffs
Advancements in information technology

Main Focus of International Business

Identifying and capitalizing on business opportunities that exist beyond a company's domestic market

Globalization

Also known as internationalization or globalization of markets
Refers to the process of bridging separate national markets into one global marketplace

Factors Contributing to Globalization

Reduction in transportation costs and improvement in logistics, making cross-border trade easier
Advancements in information technology, such as the internet and mobile devices, which facilitate communication and trade across borders

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Description

Test your knowledge of international business with this quiz! Explore topics such as cross-border transactions, global trade, international production, and the movement of economic resources between countries. See how much you know about the complexities of conducting business on a global scale.