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-6 section-4

A situation where any advantage given by one member of the WTO to another member is extended to all WTO members is referred to as

A) Trade Diversion B) Inter-Regional Principle C) Most Favoured Nation D) Least Traded Nation

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Answer & Solution

Answer: Option C

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Keeping in the process of globalization, 'Levitt Thesis' means:

A) There should be standardization strategy for products and aggressive low pricing B) There is homogenization of the same products throughout the world C) There should be customized products to meet the national market D) None of the above

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Answer & Solution

Answer: Option B

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The Philip's curve shows a:

A) negative relationship between inflation and wage rates B) positive relationship between inflation and unemployment C) negative relationship between inflation and unemployment D) negative relationship between unemployment inflation and economic growth

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Answer & Solution

Answer: Option C

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Investors of FDI are

A) active B) non-active C) Both A and B D) None of these

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Answer & Solution

Answer: Option A

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Match the following.

List-I (Theories of International Trade)	List-II (Features)
a. Theory of mercantilism	1. It is developed by John Stuart Mill.
b. Theory of absolute advantage	2. What each country will export and what it will import is determined by comparative differences in labour costs.
c. Theory of comparative cost	3. It refers to the ability of a country to produce a good more.
d. Theory of reciprocal demand	4. It attributes and measures the wealth of a nation by the size of its accumulated treasures.

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

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Answer & Solution

Answer: Option A

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Objective of World Bank does not include

A) assistance in the reconstruction of member countries B) supplement private investment by its own loans and finances C) short-term assistance to member countries D) encourage long-term balanced growth of international trade

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Answer & Solution

Answer: Option C

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Theory of comparative advantage is propounded by

A) Adam Smith B) David Ricardo C) Marshall D) Robbins

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Answer & Solution

Answer: Option B

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Which of the following statements is correct?

A) ASEAN was established in Bangkok B) Originally, ASEAN had 7 members countries C) Both A and B D) All of the above

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Answer & Solution

Answer: Option A

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In which of the following year, the Articles of Agreement of IMF were changed for the first time

A) 1967 B) 1968 C) 1969 D) None of these

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Answer & Solution

Answer: Option C

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Match the items of List-I with the items of List-II and select the correct answer with the options given below.

List-I	List-II
a. SAARC	1. Philippines
b. ASEAN	2. Canada
c. EU	3. Afghanistan
d. NAFTA	4. Hungary

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

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Answer & Solution

Answer: Option C

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