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International Business 2 Class 11 MCQs Questions with Answers
International Business MCQ Chapter 12 Class 11 Question 1.
TRIP is one of the WTO agreements that deal with
(a) Trade in agriculture
(b) Trade in services
(c) Trade related investment measures
(d) None of these
Answer
Answer: (d) None of these
MCQ On International Business Chapter 12 Question 2.
The document containing the guarantee of a bank to honour drafts drawn on it by an exporter is
(a) Letter of hypothetication
(b) Letter of credit
(c) Bill of lading
(d) Bill of exchange
Answer
Answer: (b) Letter of credit
International Business MCQs Chapter 12 Class 11 Question 3.
A receipt issued by the commanding officer of the ship when the cargo is loaded on the ship is known as
(a) Shipping receipt
(b) Mate receipt
(c) Cargo receipt
(d) Charter receipt
Answer
Answer: (b) Mate receipt
MCQ Of International Business Class 11 Chapter 12 Question 4.
Which one of the following is not a document related to fulfill the customs formalities
(a) Shipping bill
(b) Export license
(c) Letter of insurance
(d) Proforma invoice
Answer
Answer: (d) Proforma invoice
MCQs On International Business Chapter 12 Question 5.
Which of the following documents is not required in connection with an import transaction?
(a) Bill of lading
(b) Shipping bill
(c) Certificate of origin
(d) Shipment advice
Answer
Answer: (c) Certificate of origin
International Business MCQ With Answers Class 11 Question 6.
SMEs stands for:
(a) Small and Medium Entrepreneurs
(b) Small Management of Enterprises
(c) Small and Medium-sized Enterprises.
(d) Societies for Managing Exports
Answer
Answer: (c) Small and Medium-sized Enterprises.
International Business MCQ With Answers Pdf Question 7.
MNC Stands for
(a) Multi-National Cooperation
(b) Multi-National Corporation
(c) Multi-National Company
(d) Multi-National Collaboration
Answer
Answer: (b) Multi-National Corporation
MCQs Of International Business Chapter 12 Class 11 Question 8.
IPR stands for
(a) Intellectual property rights
(b) International property rights
(c) Internal promotion rights
(d) Interior promotional rights
Answer
Answer: (a) Intellectual property rights
MCQ Questions On International Business Chapter 12 Question 9.
WTO stands for
(a) World technology association
(b) World time organization
(c) World trade organization
(d) World tourism organization
Answer
Answer: (c) World trade organization
International Business MCQ Questions And Answers Chapter 12 Question 10.
…..is only a legal agreement and it is not an institution, but ….. is a permanent institution.
(a) GATT, WTO
(b) WTO, GATT
(c)WTO, IMF
(d) IMF, GATT
Answer
Answer: (a) GATT, WTO
International Business MCQ With Answers Pdf Class 11 Question 11.
…………………corporation produces in the home country or in a single country and focuses on marketing these products globally or vice a versa.
(a) Global
(b) International
(c) Transnational
(d) None of the above
Answer
Answer: (a) Global
MCQ International Business Chapter 12 Class 11 Question 12.
Key controllable factors in global marketing are:
(a) Government policy and legislation
(b) social and technical changes
(c) marketing activities and plans
(d) all of the above.
Answer
Answer: (c) marketing activities and plans
Question 13.
Comparative Cost Trade Theory is given by
(a) Adam Smith
(b) David Ricardo
(c) Gottfried Haberler
(d) Heckscher Ohlin
Answer
Answer: (b) David Ricardo
Question 14.
Globalization refers to:
(a) Lower incomes worldwide
(b) Less foreign trade and investment
(c) Global warming and their effects
(d) A more integrated and interdependent world
Answer
Answer: (d) A more integrated and interdependent world
Question 15.
Capitalistic, communistic and Mixed are the types of
(a) Economic System
(b) Social System
(c) Cultural Attitudes
(d) Political System
Answer
Answer: (a) Economic System
Question 16.
The theory of comparative cost advantage is given by
(a) David Ricardo
(b) Adam Smith
(c) F W Taussig
(d) Ohlin and Hecksher
Answer
Answer: (a) David Ricardo
Question 17.
The Theory of Absolute Cost Advantage is given by
(a) David Ricardo
(b) Adam Smith
(c) F W Taylor
(d) Ohlin and Heckscher
Answer
Answer: (b) Adam Smith
Question 18.
Subsidiaries consider the regional environment for policy / Strategy formulation is known as
(a) Polycentric Approach
(b) Regiocentric Approach
(c) Ethnocentric Approach
(d) Geocentric Approach
Answer
Answer: (b) Regiocentric Approach
Question 19.
Ultimately ………………was replaced by the …………….on 1st Jan 1995
(a) GATS, WTO
(b) WTO, GATT
(c) GATT, WTO
(d) IMF, GATT
Answer
Answer: (c) GATT, WTO
Question 20.
The first phase of globalization started around 1870 and ended with …..
(a) World War I
(b) World War II
(c) The Establishment of GATT
(d) In 1913 when GDP was High
Answer
Answer: (a) World War I
Question 21.
Which of the following does not belong to the World Bank group?
(a) IBRD
(b) IDA
(c) MIGA
(d) IMF
Answer
Answer: (d) IMF
Question 22.
Which of the following document is prepared by the exporter and includes details of the cargo in terms of the shipper’s name, the number of packages, the shipping bill, port of destination, name of the vehicle carrying the cargo?
(a) Shipping bill
(b) Packaging list
(c) Mate’s receipt
(d) Bill of exchange
Answer
Answer: (d) Bill of exchange
Question 23.
Which one of the following is not a part of export documents?
(a) Commercial invoice
(b) Certificate of origin
(c) Bill of entry
(d) Mate’s receipt
Answer
Answer: (c) Bill of entry
Question 24.
Which of the following do not form part of duty drawback scheme?
(a) Refund of excise duties
(b) Refund of customs duties
(c) Refund of export duties
(d) Refund of income dock charges at the port of shipment
Answer
Answer: (d) Refund of income dock charges at the port of shipment
Question 25.
Which of the following documents are not required for obtaining an export license?
(a) IEC number
(b) Letter of credit
(c) Registration cum membership certificate
(d) Bank account number
Answer
Answer: (b) Letter of credit
One Marks Questions
1. Expand IEC.
Answer
Answer: Import Export Code.
2. Expand WTO
Answer
Answer: World Trade Organisation
3. Mention any one document of export trade.
Answer
Answer: Shipping Bill
4. Expand FTZ.
Answer
Answer: Free Trade Zones
5. Expand SEZ.
Answer
Answer: Special Economic Zones
6. Expand IIFT.
Answer
Answer: Indian Institute of Foreign Trade
7. Expand IMF.
Answer
Answer: International Monetary Fund
8. What is D.P bill?
Answer
Answer: DP inpayment term of imports and exports means Documents against Payments.
9. What is D.A bid?
Answer
Answer: DA in payment term of international trade means, Documents against Acceptance
10. Expand BOL.
Answer
Answer: Bill of Lading
11. Expand EIC.
Answer
Answer: Export Inspection council
12. Expand UNCTAD.
Answer
Answer: United Nations Conference on Trade and Development.
13. Expand EPZ.
Answer
Answer: Export Processing Zones.
14. Expand EOU.
Answer
Answer: Export Oriented Units
15. Name any one export processing zone.
Answer
Answer: Cochin export processing zone
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