Business Environment and International Business MCQ Questions and Solutions with Explanations

Section 1 Section 2 Section 3 Section 4 Section 5 Section 6 Section 7

41.
The World Trade Organization has all of the following functions except which one?

A. Establishing rules for the conduct of international trade

B. Providing short-term capital to finance trade for low-income countries

C. Providing a forum negotiating reduction in trade barriers

D. Settling trade disputes between member countries

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42.
Which of the following is the basic objective of the World Bank?

A. To provide social services

B. To provide financial assistance

C. To promote economic growth

D. To eradicate poverty

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43.
An MNC that maintains a balance between the home market and host market-oriented policies is

A. ethnocentric firm

B. polycentric firm

C. geocentric firm

D. none of the above

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44.
A Central Consumer Protection Council established by the

A. State Government

B. Central Government

C. Parliament

D. President of lndia

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45.
Which of the following can be defined as the component/s of Liquidity Adjustment Facility?

A. Repo rate

B. Reverse repo rate

C. Both repo and reverse repo rate

D. Bank rate

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46.
World Trade Organization is located in Geneva, Switzerland and it has 164 members. WTO was created on 1^st January 1995 by:

A. Tokyo Round negotiations

B. Uruguay Round negotiations

C. Washington consensus

D. Doha round negotiations

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47.
Match the following legislations with the year of their enactment:

List-I List-II

a. Industries (Development and Regulation) Act 1. 1969

b. Foreign Exchange Management Act 2. 1951

c. Securities Exchange Board Of India Act 3. 1999

d. Monopolies and Restrictive Trade Practices Act 4. 1992

A. a-1, b-3, c-4, d-2

B. a-1, b-4, c-3, d-2

C. a-2, b-3, c-4, d-1

D. a-2, b-3, c-1, d-4

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48.
Globalisation of financial services is being promoted by

A. World Trade Organisation

B. International Finance Corporation

C. International Bank for Reconstruction and Development

D. International Monetary Fund

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49.
Assertion (A): Free international trade necessarily lowers the real wage of the scarce factor of production in terms of any good.
Reason (R): If the real wage declines in terms of every good, real income must suffer regardless of the tastes and expenditure patterns of the labourer as consumers.

A. Both A and R are true and R is the correct explanation of A

B. Both A and Rare true but R is NOT a correct explanation of A

C. A is true but R is false

D. A is false but R is true

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50.
Match the following.

List-I List-II

a. FOB basis 1. Means of international payment

b. Official reserves 2. Price paid for insurance and shipment of goods should not be included as part of value of goods either by exporter or importer

c. Balance of payment manual 3. Principles or concepts to be followed by countries while compiling BoP data to ensure consistency

d. Bill of lading 4. Document of title of sale of goods

A. a-2, b-1, c-3, d-4

B. a-1, b-2, c-3, d-4

C. a-3, b-2, c-1, d-4

D. a-4, b-3, c-2, d-1

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1 2 3 4 5 6 7 8 9 10

List-I	List-II
a. Industries (Development and Regulation) Act	1. 1969
b. Foreign Exchange Management Act	2. 1951
c. Securities Exchange Board Of India Act	3. 1999
d. Monopolies and Restrictive Trade Practices Act	4. 1992

List-I	List-II
a. FOB basis	1. Means of international payment
b. Official reserves	2. Price paid for insurance and shipment of goods should not be included as part of value of goods either by exporter or importer
c. Balance of payment manual	3. Principles or concepts to be followed by countries while compiling BoP data to ensure consistency
d. Bill of lading	4. Document of title of sale of goods

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

41. The World Trade Organization has all of the following functions except which one?

Answer & Solution

42. Which of the following is the basic objective of the World Bank?

Answer & Solution

43. An MNC that maintains a balance between the home market and host market-oriented policies is

Answer & Solution

44. A Central Consumer Protection Council established by the

Answer & Solution

45. Which of the following can be defined as the component/s of Liquidity Adjustment Facility?

Answer & Solution

46. World Trade Organization is located in Geneva, Switzerland and it has 164 members. WTO was created on 1st January 1995 by:

Answer & Solution

47. Match the following legislations with the year of their enactment: List-I List-II a. Industries (Development and Regulation) Act 1. 1969 b. Foreign Exchange Management Act 2. 1951 c. Securities Exchange Board Of India Act 3. 1999 d. Monopolies and Restrictive Trade Practices Act 4. 1992

Answer & Solution

48. Globalisation of financial services is being promoted by

Answer & Solution

49. Assertion (A): Free international trade necessarily lowers the real wage of the scarce factor of production in terms of any good. Reason (R): If the real wage declines in terms of every good, real income must suffer regardless of the tastes and expenditure patterns of the labourer as consumers.

Answer & Solution

Answer & Solution

Read More Section(Business Environment and International Business)

41.
The World Trade Organization has all of the following functions except which one?

42.
Which of the following is the basic objective of the World Bank?

43.
An MNC that maintains a balance between the home market and host market-oriented policies is

44.
A Central Consumer Protection Council established by the

45.
Which of the following can be defined as the component/s of Liquidity Adjustment Facility?

46.
World Trade Organization is located in Geneva, Switzerland and it has 164 members. WTO was created on 1^st January 1995 by:

47.
Match the following legislations with the year of their enactment:

List-I List-II

a. Industries (Development and Regulation) Act 1. 1969

b. Foreign Exchange Management Act 2. 1951

c. Securities Exchange Board Of India Act 3. 1999

d. Monopolies and Restrictive Trade Practices Act 4. 1992

48.
Globalisation of financial services is being promoted by

49.
Assertion (A): Free international trade necessarily lowers the real wage of the scarce factor of production in terms of any good.
Reason (R): If the real wage declines in terms of every good, real income must suffer regardless of the tastes and expenditure patterns of the labourer as consumers.