International Business Chapter 1 Test

24 Questions | By Christian_s | Updated: Mar 21, 2022 | Attempts: 1421

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This test will confirm your knowledge of the basic Business history and definitions. Along with some statistics from our other assignments.

Questions and Answers

1.

What is a Transaction?
- A.
  
  The manufacturing or sale of goods and or services to satisfy the wants and needs of consumers.
- B.
  
  A business that makes most of its transactions within the borders of the country which it is based.
- C.
  
  An exchange of things of value.
- D.
  
  A transaction made between 2 canadian companies
2.

Trade with Mexico has developed since is signing in...
- A.
  
  December 2001
- B.
  
  January 1994
- C.
  
  February 1996
3.

The middle east is traditionally centered on oil
- A.
  
  True
- B.
  
  False
4.

African imports to canada are very high.
- A.
  
  True
- B.
  
  False
5.

India's workforce is generally ______ and well educated.
6.

Japan became known for high quality _______ and _______.
7.

5 main ways for companies to participate in international business are: 1-Own a manufacturing plant in another country. 2-_________________. 3-_________________. 4-_________________. 5-Invest in a business in another country
8.

The United States' GDP is _______.
9.

_______ has the lowest GDP of __________. ____________ has the highest GDP of ___________.
10.

The capital of Norway is________. The capital of China is ___________.
11.

Canadian Top 10 Exports markets are __________________________.
12.

The 3 main areas of interdependence are _______industries, __________ industries, and ___________industries.
13.

What are 5 major Primary Industries?
- A.
  
  Mining, Energy, Fishing hunting and trapping, Forestry and Logging, and Agriculture
- B.
  
  Nike, Blackberry, Apple, Samsung, Reebok
- C.
  
  Foreign trade, Domestic trade, F&D markets, and interdependence.
14.

A Branch plant is a factory owned by a company based in ______ _________.
15.

Secondary industries make the finished goods available to the public.
- A.
  
  True
- B.
  
  False
16.

It costs apple $_______ to make the iPhone.
- A.
  
  262
- B.
  
  625
- C.
  
  192
- D.
  
  368
17.

The 3 best global brands are:
- A.
  
  Coca Cola, Mcdonalds, Microsoft
- B.
  
  Coca Cola, IBM, Microsoft
- C.
  
  Coca Cola, IBM, Mcdonalds
18.

Another name for tertiary industries is service sector.
- A.
  
  True
- B.
  
  False
19.

A ______-_______ economy is an economy based on businesses owned by foreign interests.
20.

More than ___% of everything that Candians produce is exported.
21.

Canadia Trade increased $257 billion from 1989-2000 because of ________.
22.

List 3 benefits or positive outcomes that trade brings to Canada.
23.

Name 2 ways that International Business HELPS Canadians. Then, name 2 ways it HURTS canadians.
24.

Blackberry (RIM) was created by 2 engineering students. They are: __________ and __________.