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International Business Test - 23

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International Business Test - 23
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  • Question 1
    1 / -0
    It is used to collectively describe all commercial transactions i.e., private and governmental, sales investments, etc. that take place between two or more regions, countries and nations beyond their political boundary.
    Solution
    International business refers to cross-bordercommerce and other business transactions between governments or companies. Among other things, engaging in international business requires an understanding of the legal requirements and business and trade regulations of the country in which you are doing business.
  • Question 2
    1 / -0
    Presently Industrial Licensing is not applicable for ___________.
    Solution
    It normally takes place in a specialized facility known as a shipyard. Ship builders, also called shipwrights, follow a specialized occupation that traces its roots to before recorded history.
  • Question 3
    1 / -0
    The franchiser can expand his distribution system in the least possible time.
    Solution
    Franchising is based on a marketing concept which can be adopted by an organization as a strategy for business expansion. Where implemented, a franchiser licenses its know-how, procedures, intellectual property, use of its business model, brand; and rights to sell its branded products and services to a franchisee.
  • Question 4
    1 / -0
    Under which strategy, a firm tries to redefine the business, enter new businesses, that are related or unrelated or look at its product portfolio more intensely?
    Solution
    The Expansion Strategy is adopted by an organization when it attempts to achieve a high growth as compared to its past achievements. 
  • Question 5
    1 / -0
    Reliance on other countries and international organizations for financial support is called ___________.
  • Question 6
    1 / -0
    View that assumes home country's personnel and ways of doing things are best is known as ____________.
    Solution
    This ethnocentric attitude stems from the belief that the parent-country nationals are best suited to run the business.
  • Question 7
    1 / -0
    The individual or firm which grants right is called_________.
    Solution
    A franchisor is a person or company that grants the license to a third party for the conducting of a business under the franchisor's marks. The franchisor owns the overall rights and trademarks of the company and allows its franchisees to use these rights and trademarks to do business.
  • Question 8
    1 / -0
    The government has progressively moved towards a uniform basic excise rate of _______ but exemptions and surcharges still affect the actual rate.
  • Question 9
    1 / -0
    Theory of Absolute Advantage of international trade is propounded by _______.
    Solution
    Adam Smith has sometimes been caricatured as someone who saw no role for government in economic life. In fact, he believed that government had an important role to play. Smith's writings are both an inquiry into the science of economics and a policy guide for realizing the wealth of nations.
  • Question 10
    1 / -0
    Franchising enables the franchiser to increase his ____________ by expanding his network.
    Solution
     franchising the business, the franchisor places the expansion of his/her business in the hands of people who are motivated to make it work.
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