International Business Test

Result

International Business Test - 22

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Weekly Quiz Competition

Question 1
1 / -0

Which of the following is a function of the WTO?

A
Laying down a commonly accepted code of conduct to reduce trade barriers

B
Acting as a dispute settlement body

C
Ensuring that all the rules regulations prescribed in the Act are duly followed by the member countries for the settlement of their disputes

D
All of the above

Solution

The functions of WTO are:
1: Laying down a commonly accepted code of conduct to reduce trade barriers.
2: Acting as a dispute settlement body.
3: Ensuring that all the rules regulations prescribed in the Act are duly followed by the member countries for the settlement of their disputes.
Question 2
1 / -0

Which among the following is a function of the IMF?

A
Acting as short term credit institution

B
Promoting orderly adjustment of exchange rate

C
Lending institution of foreign currency and current transaction

D
All of the above

Solution

The functions of IMF are :
1: Acting as a short term credit institution
2: Promoting orderly adjustment of exchange rate
3: Lending instituions of foreign currency and current transaction.
Question 3
1 / -0

IMF acts as a __________ credit institution.

A
long-term

B
short-term

C
both A & B

D
neither A & B
Question 4
1 / -0

For international development of business enterprise, it should always take care of following points?

A
Unnecessary controls on Industrial licensing, reduction in tax, rates, socio--cultural

B
Reduction in tax, unnecessary controls on industrial licensing, shareholders

C
Media, sociocultural, shareholders

D
Unnecessary controls on industrial licensing, reduction in taxes, freedoms in fixing prices

Solution

International development or global development is a wide concept concerning level of development on an international scale. It is the basis for international classifications such as developed country, developing country and least developed country.
Question 5
1 / -0

Which of the following is not a major objective of the WTO?

A
Increase international trade barriers

B
Reduce international trade barriers

C
Promote optimal use of world resources

D
Create a more integrated trading system

Solution

The major objectives of WTO is to reduce the trade barriers, promote optimal use of world resources, create a more integrated trading system.
Question 6
1 / -0

WTO is a successor to __________.

A
IMF

B
GATT

C
ITO

D
IMC

Solution

World Trade Organization (WTO) is a successor to General Agreements on Tariffs and Trade (GATT).
Question 7
1 / -0

In which meeting was the idea of the WTO first coined?

A
Development of poor nations conference

B
Bretton woods conference

C
Distribution of wealth meet

D
None of the above

Solution

The Bretton Woods conference was the meeting which coined the idea of World Trade Organization (WTO) and International Monetary Funds (IMF).
Question 8
1 / -0

Agreement on textile and clothing is an agreement fostered by the __________.

A
World Bank

B
United Nations

C
WTO

D
IMF

Solution

The Agreement of textile and clothing provided for all then-existing textile and clothing trade restrictions to be notified and eliminated over a period of 10 years from the date of entry into force of the WTO Agreement.
Question 9
1 / -0

View that assumes that local managers in host countries know best how to run the operations is known as __________.

A
Ethnocentric attitude

B
Polycentric attitude

C
Geocentric attitude

D
International management.

Solution

A local global manager is characterized by the nature of the work he or she does, typically within an organization with global operations, the worldwide functional local managers who help leverage knowledge and innovations across the key functional departments throughout the organization.
Question 10
1 / -0

The franchisee pays to the franchiser a sum off money called _______ for using his business know-how and trade mark.

A
Trade balance

B
Royalty

C
Sales dues

D
Account balance

Solution

A royalty is a payment made by one party, the licensee or franchisee to another that owns a particular asset, the licensor or franchisor for the right to ongoing use of that asset.

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Re-Attempt Weekly Quiz Competition

International Business Test - 22

Result

International Business Test - 22

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Rank

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SHARING IS CARING

Question 1

Laying down a commonly accepted code of conduct to reduce trade barriers

Acting as a dispute settlement body

Ensuring that all the rules regulations prescribed in the Act are duly followed by the member countries for the settlement of their disputes

All of the above

Solution

Question 2

Acting as short term credit institution

Promoting orderly adjustment of exchange rate

Lending institution of foreign currency and current transaction

All of the above

Solution

Question 3

long-term

short-term

both A & B

neither A & B

Question 4

Unnecessary controls on Industrial licensing, reduction in tax, rates, socio--cultural

Reduction in tax, unnecessary controls on industrial licensing, shareholders

Media, sociocultural, shareholders

Unnecessary controls on industrial licensing, reduction in taxes, freedoms in fixing prices

Solution

Question 5

Increase international trade barriers

Reduce international trade barriers

Promote optimal use of world resources

Create a more integrated trading system

Solution

Question 6

IMF

GATT

ITO

IMC

Solution

Question 7

Development of poor nations conference

Bretton woods conference

Distribution of wealth meet

None of the above

Solution

Question 8

World Bank

United Nations

WTO

IMF

Solution

Question 9

Ethnocentric attitude

Polycentric attitude

Geocentric attitude

International management.

Solution

Question 10

Trade balance

Royalty

Sales dues

Account balance

Solution

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