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BBA International Business — free MCQ practice

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BBA International Business subjects

International Business (102)Business Studies (66)

Explore popular topics

Business StudiesInternational BusinessBusiness EnvironmentManagement BasicsGlobal Business EnvironmentCompeting in the Global MarketplaceBusiness EconomicsStrategic ManagementCross-Cultural ManagementOrganisational Behaviour

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Exports are best defined as which of the following?Read the answer and worked solution →Roughly what share of world exports and imports do the developed nations account for?Read the answer and worked solution →What is the balance of trade of a country?Read the answer and worked solution →A country exports more than it imports over a year. What does it have?Read the answer and worked solution →

Worked practice questions

Exports are best defined as which of the following?

  1. Goods and services that are bought from other countries
  2. Goods and services traded between two firms in one country
  3. Goods and services carried across a border without payment
  4. Goods and services made in one country and sold to others
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Correct answer: D. Goods and services made in one country and sold to others

1. Exports are goods and services made in one country and sold to other countries. 2. Imports are the mirror image, being goods and services bought from other countries. 3. Trade between two firms inside one country is domestic trade rather than an export. 4. An export is a sale, so a transfer without payment does not fit the definition. _Source: OpenStax Introduction to Business (CC BY 4.0), Ch 3 "Competing in the Global Marketplace", section 3.1 Global Trade in the United States_

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Roughly what share of world exports and imports do the developed nations account for?

  1. About 30 percent of the total
  2. About 50 percent of the total
  3. About 70 percent of the total
  4. About 90 percent of the total
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Correct answer: C. About 70 percent of the total

1. Developed nations have mature communication, financial, educational and distribution systems. 2. Those systems make them the major players in international trade. 3. They account for about 70 percent of the exports and imports of the world. 4. The three other figures either understate or overstate that concentration. _Source: OpenStax Introduction to Business (CC BY 4.0), Ch 3 "Competing in the Global Marketplace", section 3.1 Global Trade in the United States_

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What is the balance of trade of a country?

  1. The total value of every good it produces in a year
  2. The difference between its tax revenue and spending
  3. The total value of the currency reserves it holds
  4. The difference between its exports and its imports
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Correct answer: D. The difference between its exports and its imports

1. The balance of trade compares the value of exports with the value of imports. 2. The comparison is made over a specific period of time. 3. A country exporting more than it imports has a favorable balance, called a trade surplus. 4. A country importing more than it exports has an unfavorable balance, called a trade deficit. _Source: OpenStax Introduction to Business (CC BY 4.0), Ch 3 "Competing in the Global Marketplace", section 3.1 Global Trade in the United States_

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