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-3 section-5

Which article of the NAFTA agreement outlines its purpose?

A) Article 103 B) Article 101 C) Article 102 D) Article 104

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Answer & Solution

Answer: Option A

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Which of the following statements is/are incorrect?

A) WTO helps to protect environment B) WTO applied to trade in merchandise goods C) Both A and B D) None of the above

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Answer & Solution

Answer: Option B

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Which of the following are not components of BoP account?

A) Current A/c B) Capital A/c C) Official reserves D) Profit and Loss A/c

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Answer & Solution

Answer: Option D

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Which of the following can be termed as the tax shifting?

A) To bear the tax burden himself B) To shift the tax burden on others C) To bear some part of the tax himself and shift the rest on others D) None of these

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Answer & Solution

Answer: Option B

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Which of the following statement is/are correct

A) Globalisation implies integration of the economy of the country with rest of the world economy B) Globalisation focussed on industrialisation C) Both A and B D) None of the above

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Answer & Solution

Answer: Option C

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Assertion (A): Special Drawing Rights (SDRs) have the characteristics of an international currency.
Reason (R): SDRs were introduced to increase international liquidity.

A) Both A and R are individually true and R is the correct explanation of A B) Both A and R are individually true, but R is NOT the correct explanation of A C) A is true but R is false D) A is false but R is true

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Answer & Solution

Answer: Option A

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The 'Terms of Trade' (ToT) refer to the following statement

A) the excess of import expenditures over export earnings B) trade agreements C) the ratio between export prices and import prices D) the terms and conditions on which a country is offered loan in the event of balance of payments difficulties

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Answer & Solution

Answer: Option C

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Match the following.

List-I	List-II
a. Internal environment	1. Skilled labour
b. External environment	2. Financial and physical resources
c. Financial resources	3. Customer and competitor
d. Human resources	4. Financial and profitable use of funds

A) a-2, b-3, c-4, d-1 B) a-2, b-4, c-1, d-3 C) a-3, b-1, c-2, d-4 D) a-4, b-3, c-2, d-1

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Answer & Solution

Answer: Option A

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Match the following with the year of establishment.

List-I	List-II
a. World Trade Organization	1. 1993
b. Uruguay Round Negotiation	2. 1995
c. WTO - Trade Policy Review Body	3. 1997
d. The Patents (Amendment) Act	4. 1999

A) a-1, b-3, c-4, d-2 B) a-1, b-4, c-3, d-2 C) a-2, b-1, c-3, d-4 D) a-4, b-2, c-1, d-3

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Answer & Solution

Answer: Option C

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Which of the following statement(s) is/are correct?
1. Profit advantage is objective of international business.
2. International business helps in removing domestic market constraints.
3. International business shrink business risk.

A) Only 1 B) Only 2 C) Both 1 and 2 D) All of the above

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Answer & Solution

Answer: Option D

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