International Business Test

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International Business Test - 25

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Weekly Quiz Competition

Question 1
1 / -0

Which of the following is/are the advantage(s) of contract manufacturing?

A
There is hardly any investment risk involved in the foreign countries.

B
It helps international firms in getting products manufactured or assembled at lower costs.

C
Local producers in foreign countries also gain from contract manufacturing.

D
All of the above

Solution

A contract manufacturing company may offer significant cost advantages over an organization's internal production facilities. Because contract manufacturing companies will specialize in developing certain kinds of products, it can start a high-volume production line while implementing all of its' cost-saving measures.
Question 2
1 / -0

Bretton Woods conference agreed upon having some arrangement among themselves so as to liberalise the world. The arrangement is known as __________.

A
Tariff

B
Customs

C
International Trade Organization

D
General Agreement for Tariffs and Trade
Question 3
1 / -0

_________ is one form of outsourcing that allows companies to improve their production capability, get new services they cant manufacture themselves or reduce their production costs.

A
Export

B
Import

C
Contract manufacturing

D
None of the above

Solution

A contract manufacturing company may offer significant cost advantages over an organization's internal production facilities.Because contract manufacturing companies will specialize in developing certain kinds of products, it can start a high-volume production line while implementing all of its' cost saving measures
Question 4
1 / -0

The ________ Round was officially launched at the WTOs Fourth Ministerial Conference in Qatar, in November 2001.

A
Uruguay

B
Doha

C
Geneva

D
Greece
Question 5
1 / -0

_______ often enable growth without having to borrow funds or look for outside investors.

A
Contract manufacturing

B
Joint ventures

C
Licensing

D
Wholly Owned Subsidiaries

Solution

A Joint Venture is a kind of business arrangement, wherein two or more firms come together to work on the same project, to fulfill a specific purpose such as accomplishing a task or project. In this venture sometimes there is no requirement to borrow funds from outsiders. The following are the features of Joint Venture:
1. Two or more firms come to an agreement.
2. Firms pool their resources like capital, manpower, technical know-how
3. To share of profit and loss
4. To make optimum utilization of resources.
Thus the correct answer is B.
Question 6
1 / -0

Mobility of factors of production for conducting international business is ________.

A
free

B
restricted

C
barred

D
none of the above

Solution

Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship. The first factor of production is land, but this includes any natural resource used to produce goods and services.
Question 7
1 / -0

Which is the first step in the process of Contract Manufacturing?

A
Contract manufacturer manufactures and reports progress to the original equipment manufacturer

B
Customer places a sales order

C
Product shipped on the customer's request.

D
Manufacturing is outsourced partially to a contract manufacturer.

Solution

A contract manufacturer is a manufacturer that contracts with a firm for components or products. It is a form of outsourcing. A contract manufacturer performing packaging operations is called co packer or a contract packager.
Question 8
1 / -0

A joint ownership venture may be brought about in which of the following way(s)?

A
Foreign investor buying an interest in a local company.

B
Local firm acquiring an interest in an existing foreign firm.

C
Both the foreign and local entrepreneurs jointly forming a new enterprise.

D
All of the above

Solution

A joint venture (JV) is a business entity created by two or more parties, generally characterised by shared ownership, shared returns and risks, and shared governance.Most joint ventures are incorporated, although some, as in the oil and gas industry, are "unincorporated" joint ventures that mimic a corporate entity.
Question 9
1 / -0

International business in the form of Foreign investment ________.

A
includes investments of funds abroad

B
can be direct investments

C
can be portfolio investments

D
all of the above

Solution

A foreign direct investment is an investment in the form of a controlling ownership in a business in one country by an entity based in another country. It is thus distinguished from a foreign portfolio investment by a notion of direct control
Question 10
1 / -0

Which of the following industry(ies) is/are example(s) of Contract Manufacturing?

A
Defense

B
Medical

C
Telecommunications

D
All of the above

Solution

Contract manufacturing is an approach to international marketing in which a business pays, a foreign business to manufacture its product and market it in a foreign country, under the domestic businesses' name. For example, Nike use contract manufacturers in South East Asia to produce their sporting goods.

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Re-Attempt Weekly Quiz Competition

International Business Test - 25

Result

International Business Test - 25

Score

-

Rank

-

SHARING IS CARING

Question 1

There is hardly any investment risk involved in the foreign countries.

It helps international firms in getting products manufactured or assembled at lower costs.

Local producers in foreign countries also gain from contract manufacturing.

All of the above

Solution

Question 2

Tariff

Customs

International Trade Organization

General Agreement for Tariffs and Trade

Question 3

Export

Import

Contract manufacturing

None of the above

Solution

Question 4

Uruguay

Doha

Geneva

Greece

Question 5

Contract manufacturing

Joint ventures

Licensing

Wholly Owned Subsidiaries

Solution

Question 6

free

restricted

barred

none of the above

Solution

Question 7

Contract manufacturer manufactures and reports progress to the original equipment manufacturer

Customer places a sales order

Product shipped on the customer's request.

Manufacturing is outsourced partially to a contract manufacturer.

Solution

Question 8

Foreign investor buying an interest in a local company.

Local firm acquiring an interest in an existing foreign firm.

Both the foreign and local entrepreneurs jointly forming a new enterprise.

All of the above

Solution

Question 9

includes investments of funds abroad

can be direct investments

can be portfolio investments

all of the above

Solution

Question 10

Defense

Medical

Telecommunications

All of the above

Solution

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