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

51.
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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52.
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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53.
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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54.
Investors of FDI are

A. active

B. non-active

C. Both A and B

D. None of these

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55.
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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56.
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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57.
Theory of comparative advantage is propounded by

A. Adam Smith

B. David Ricardo

C. Marshall

D. Robbins

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58.
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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59.
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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60.
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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1 2 3 4 5 6 7 8 9 10

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.

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

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

51. 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

Answer & Solution

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

Answer & Solution

53. The Philip's curve shows a:

Answer & Solution

54. Investors of FDI are

Answer & Solution

Answer & Solution

56. Objective of World Bank does not include

Answer & Solution

57. Theory of comparative advantage is propounded by

Answer & Solution

58. Which of the following statements is correct?

Answer & Solution

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

Answer & Solution

60. 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

Answer & Solution

Read More Section(Business Environment and International Business)

51.
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

52.
Keeping in the process of globalization, 'Levitt Thesis' means:

53.
The Philip's curve shows a:

54.
Investors of FDI are

56.
Objective of World Bank does not include

57.
Theory of comparative advantage is propounded by

58.
Which of the following statements is correct?

59.
In which of the following year, the Articles of Agreement of IMF were changed for the first time

60.
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