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International Business Test - 24

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International Business Test - 24
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Weekly Quiz Competition
  • Question 1
    1 / -0
    The principles of comparative advantage about international trade are laid down by _______.
    Solution
    David Ricardo developed the classical theory of comparative advantage in 1817 to explain why countries engage in international trade even when one country's workers are more efficient at producing every single good than workers in other countries.
  • Question 2
    1 / -0
    _______ is chargeable from companies engaged in production of goods at applicable tariffs.
  • Question 3
    1 / -0
    Which among the following is/are the benefit(s) that international trade brings to nation?
    Solution
    The advantages of trade. International trade brings a number of valuable benefits to a country, including.Producing a narrow range of goods and services for the domestic and export market means that a country can produce in at higher volumes, which provides further cost benefits in terms of economies of scale.
  • Question 4
    1 / -0
    West Bengal specializes in production of _________.
    Solution
    Jute being crop is an important source of income of growers of West Bengal. In jute cultivation requires a considerable amount of cash investment, an average grown has to face a number of socio-economic and technological problems. A study was conducted on adoption of jute production technology in West Bengal.
  • Question 5
    1 / -0
    Trade between two countries can be useful if cost ratios of goods are ______.
    Solution
    Trade between two or more countries is called foreign trade or international trade. This involves the exchange of goods and services between the citizens of two countries. Trading globally gives consumers and countries the opportunity to be exposed to goods and services not available in their own countries.
  • Question 6
    1 / -0
    All major decisions are made by the membership as a whole, either by ministers who usually meet _____ or by their ambassadors or delegates.
  • Question 7
    1 / -0
    One of the major objectives of the WTO is _________.
  • Question 8
    1 / -0
    Which of the followings are called Brettonwoods Twins?
  • Question 9
    1 / -0
    Contract manufacturing is a business process in which an organization known as ____________ outsources manufacturing to another organization.
    Solution
    OEM (pronounced as separate letters) is short for original equipment manufacturer, which is a somewhat misleading term used to describe acompany that has a special relationship with computer and IT producers. OEMs are manufacturers who resell another company's product under their own name and branding.
  • Question 10
    1 / -0
    Which of the following institution is associated with Dunkel Proposals?
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