R4RIN – MCQs, Mock Tests | Business Studies Business Studies-[Class 11-MCQS ]-Chapter 12 International Business

TRIP is one of the WTO agreements that deal with

1. Trade in agriculture
2. Trade in services
3. Trade related investment measures
4. None of these

✅ Correct Answer: 4

The document containing the guarantee of a bank to honour drafts drawn on it by an exporter is

1. Letter of hypothetication
2. Letter of credit
3. Bill of lading
4. Bill of exchange

✅ Correct Answer: 2

A receipt issued by the commanding officer of the ship when the cargo is loaded on the ship is known as

1. Shipping receipt
2. Mate receipt
3. Cargo receipt
4. Charter receipt

✅ Correct Answer: 2

Which one of the following is not a document related to fulfill the customs formalities

1. Shipping bill
2. Export license
3. Letter of insurance
4. Proforma invoice

✅ Correct Answer: 4

Which of the following documents is not required in connection with an import transaction?

1. Bill of lading
2. Shipping bill
3. Certificate of origin
4. Shipment advice

✅ Correct Answer: 3

SMEs stands for:

1. Small and Medium Entrepreneurs
2. Small Management of Enterprises
3. Small and Medium-sized Enterprises.
4. Societies for Managing Exports

✅ Correct Answer: 3

MNC Stands for

1. Multi-National Cooperation
2. Multi-National Corporation
3. Multi-National Company
4. Multi-National Collaboration

✅ Correct Answer: 2

IPR stands for

1. Intellectual property rights
2. International property rights
3. Internal promotion rights
4. Interior promotional rights

✅ Correct Answer: 1

WTO stands for

1. World technology association
2. World time organization
3. World trade organization
4. World tourism organization

✅ Correct Answer: 3

…..is only a legal agreement and it is not an institution; but ….. is a permanent institution.

1. GATT; WTO
2. WTO; GATT
3. WTO; IMF
4. IMF; GATT

✅ Correct Answer: 1

…………corporation produces in the home country or in a single country and focuses on marketing these products globally or vice a versa.

1. Global
2. International
3. Transnational
4. None of the above

✅ Correct Answer: 1

Key controllable factors in global marketing are:

1. Government policy and legislation
2. social and technical changes
3. marketing activities and plans
4. all of the above

✅ Correct Answer: 3

Comparative Cost Trade Theory is given by

1. Adam Smith
2. David Ricardo
3. Gottfried Haberler
4. Heckscher Ohlin

✅ Correct Answer: 2

Globalization refers to:

1. Lower incomes worldwide
2. Less foreign trade and investment
3. Global warming and their effects
4. A more integrated and interdependent world

✅ Correct Answer: 4

Capitalistic; communistic and Mixed are the types of

1. Economic System
2. Social System
3. Cultural Attitudes
4. Political System

✅ Correct Answer: 1

The theory of comparative cost advantage is given by

1. David Ricardo
2. Adam Smith
3. F W Taussig
4. Ohlin and Hecksher

✅ Correct Answer: 1

The Theory of Absolute Cost Advantage is given by

1. David Ricardo
2. Adam Smith
3. F W Taylor
4. Ohlin and Heckscher

✅ Correct Answer: 2

Subsidiaries consider the regional environment for policy / Strategy formulation is known as

1. Polycentric Approach
2. Regiocentric Approach
3. Ethnocentric Approach
4. Geocentric Approach

✅ Correct Answer: 2

Ultimately ………………was replaced by the …………….on 1st Jan 1995

1. GATS; WTO
2. WTO; GATT
3. GATT; WTO
4. IMF; GATT

✅ Correct Answer: 3

The first phase of globalization started around 1870 and ended with …..

1. World War I
2. World War II
3. The Establishment of GATT
4. In 1913 when GDP was High

✅ Correct Answer: 1

Which of the following does not belong to the World Bank group?

1. IBRD
2. IDA
3. MIGA
4. IMF

✅ Correct Answer: 4

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?

1. Shipping bill
2. Packaging list
3. Mate’s receipt
4. Bill of exchange

✅ Correct Answer: 4

Which one of the following is not a part of export documents?

1. Commercial invoice
2. Certificate of origin
3. Bill of entry
4. Mate’s receipt

✅ Correct Answer: 3

Which of the following do not form part of duty drawback scheme?

1. Refund of excise duties
2. Refund of customs duties
3. Refund of export duties
4. Refund of income dock charges at the port of shipment

✅ Correct Answer: 4

Which of the following documents are not required for obtaining an export license?

1. IEC number
2. Letter of credit
3. Registration cum membership certificate
4. Bank account number

✅ Correct Answer: 2