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International Business Test - 2

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International Business Test - 2
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Weekly Quiz Competition
  • Question 1
    1 / -0

    In which of the following modes of entry, does the domestic manufacturer give the right to use intellectual property such as patent and trademark to a manufacturer in a foreign country for a fee

    Solution

    Licensing refers to permitting another party in a foreign country to produce and sell goods under trademarks. patents or copy rights in lieu of some fee. Example: Lay's are produced and sold all over the world by local retailers in foreign countries through licensing. 
     

  • Question 2
    1 / -0

    Outsourcing a part of or entire production and concentrating on marketing operations in international business is known as

    Solution

    Contract manufacturing is a type of outsourcing in international business where a firm enters into a contract with a single or a few local manufacturers in foreign countries to get certain components or goods produced as per its given specifications. 

  • Question 3
    1 / -0

    When two or more firms come together to create a new business entity that is legally separate and distinct from its parents it is known as

    Solution

    A joint venture is a commercial enterprise undertaken jointly by two or more parties which otherwise retain their distinct identities.

  • Question 4
    1 / -0

    Which of the following is not an advantage of exporting?

    Solution

    The firms which are engaged in exporting activities generally work primary in their domestic nation so it is understood that they have a limited presence in foreign market that signifies their disadvantage in foregin market not advantage. 

  • Question 5
    1 / -0

    Which one of the following modes of entry requires higher level of risks?

    Solution

    Foreign firms entering into joint ventures share the technology and trading secrets with local firms in foreign countries, thus always establishing the risks of such a technology and secrets being disclosed to others apart from the risks associated with entry into foreign markets with dynamic business environments. 

  • Question 6
    1 / -0

    Which one of the following modes of entry permits greatest degree of control over overseas operations?

    Solution

    The parent company acquires complete control over the foreign company by making 100% investment in the firm and making it wholly owned subsidiary.

  • Question 7
    1 / -0

    Which one of the following modes of entry brings the firm closer to international markets?

    Solution

    In a joint venture, both the foreign and local entrepreneurs jointly form a new firm. The foreign business firm benefits from a local partners knowledge of the host countries regarding the competitive conditions, culture, language and other enivronmental variables, thus bringing the firm closer to international markets. 

  • Question 8
    1 / -0

    Which one of the following is not amongst India's major export items?

    Solution

    Oil and petroleum products

  • Question 9
    1 / -0

    Which one of the following is not amongst India’s major import items?

    Solution

    Ironically, India holds 2nd rank overall in the world in exporting ayurvedic medicines.Thus, India doesn't import herbal/ayurvedic medicines at all.

  • Question 10
    1 / -0

    Which one of the following is not amongst India’s major trading partners?

    Solution

    India was New Zealand’s 10th largest trading partner in the year to June 2016, with total trade in goods and services worth more than NZ$2.5 billion.

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