Business Environment and International Business MCQ Questions and Solutions with Explanations

Business Environment and International Business MCQ Questions and Solutions with Explanations | Commerce

Business Environment and International Business MCQ Questions and answers with easy and logical explanations. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Business Environment and International Business MCQ is important for exams like B.COM, M.COM, BBA, BBM, CA, CS, CMA, CPA, CFA, UPSC, NET, Banking and other commerce department exam. Page-2 section-6

Which of the following staternent/s is/are true in context of Effective Revenue Deficit (ERD)?

A) ERD is the difference between revenue deficit and grants for creation of capital assets B) The concept of ERD was suggested by the Rengarajan Committee on Public Expenditure C) ERD aims to deduct the money used out of borrowing to finance capital expenditure D) All of the above are true

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Answer & Solution

Answer: Option D

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Which one of the following is not the benefit of MNCs to the host nation?

A) Increase in social activity B) Increase in economic activity C) Utilization of natural resources D) R & D efforts enhanced

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Answer & Solution

Answer: Option A

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NAFTA was signed by

A) George H. W. Bush B) Mexican President Salinas C) Canadian Prime Minister Brian Mulroney D) All of the above

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Answer & Solution

Answer: Option D

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Which of the following statements is/are incorrect?

A) NAFTA grant the signatories most favoured nation status B) Cooperation for mutual benefit is the principle of ASEAN C) Both A and B D) All of the above

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Answer & Solution

Answer: Option B

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Under TRIPS Agreement, patent is granted subject to which of the following?
(1) The product or the process is new one.
(2) It contains an inventive step.
(3) It is capable of industrial application for 15 years from the grant of the patent.
(4) It is capable of industrial application for 20 years from the grant of the patent.

A) Only (1) and (2) B) Only (1), (2) and (3) C) Only (1), (2) and (4) D) Only (1) and (4)

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Answer & Solution

Answer: Option C

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Consider the following statements and identify the right ones.
1. A double entry system of record of all economic transactions between the residents of a country and rest of the world is called balance of trade.
2. All transactions related to goods, services or income are classified as capital account.

A) Only 1 B) Only 2 C) Both of the above D) None of the above

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Answer & Solution

Answer: Option D

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Rapid economic development or economic growth requires most efficient use of the

A) country's resources B) foreign investment C) Both A and B D) None of the above

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Answer & Solution

Answer: Option A

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What is the situation referred to as, amongst the following, when intra-region trade is duty free but there is variation in tariff structure for import from a third country?

A) Customs Union B) Common Market C) Free Trade Area D) Economic Union

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Answer & Solution

Answer: Option C

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Flow of foreign loans and investments affect:

A) Trade balance B) Current Account balance C) Capital Account balance D) None of the above

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Answer & Solution

Answer: Option C

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Which of the following statement is incorrect?

A) Economic system is not the feature of mixed economy B) Price mechanism is not affective in socialist economy C) Classless society is a feature of socialist economy D) Socialism is an universal economic system

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Answer & Solution

Answer: Option A

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