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BBA International Business Competing in the Global Marketplace — practice questions

Explore 6 free Competing in the Global Marketplace questions in BBA International Business Business Studies. Open each question or exercise to read its content, reference answers and available explanation.

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Competing in the Global Marketplace questions and exercises with answers

Showing questions 1–6 of 6.

File each block on trade by its typeRead the answer and worked solution →Climb the ladder of global entry riskRead the answer and worked solution →Knock out the false trade balance claimsRead the answer and worked solution →Spot the outsider in each trade setRead the answer and worked solution →Split free trade from protectionismRead the answer and worked solution →Fix the wrong word in each trade lineRead the answer and worked solution →

Worked practice questions

File each block on trade by its type

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Items
  1. Item
    Long distance
    Category
    Natural
  2. Item
    Charge per barrel
    Category
    Tariff
  3. Item
    Import quota
    Category
    Nontariff
  4. Item
    Language gap
    Category
    Natural
  5. Item
    Embargo
    Category
    Nontariff
  6. Item
    Percent of value
    Category
    Tariff
  7. Item
    Buy national rule
    Category
    Nontariff
  8. Item
    Protective tariff
    Category
    Tariff
  9. Item
    Exchange controls
    Category
    Nontariff
Categories
  1. Item
    Natural
  2. Item
    Tariff
  3. Item
    Nontariff
Instructions
Tap a bucket for each trade block to file it as natural, tariff or nontariff.
_Source: OpenStax Introduction to Business, section 3.3 Barriers to Trade_

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Climb the ladder of global entry risk

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Steps
  1. Exporting
  2. Licensing
  3. Joint venture
  4. Direct investment
Instructions
Tap the four ways of entering a foreign market in order, least risky first.
_Source: OpenStax Introduction to Business, section 3.6 Participating in the Global Marketplace_

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Knock out the false trade balance claims

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Questions
  1. Question
    Three of these statements about trade balances are false.
    Choices
    1. Item
      A trade deficit means imports top exports
      Correct
      Yes
    2. Explanation
      Exporting more than a country imports is a favorable balance, a trade surplus.
      Item
      A trade surplus is an unfavorable balance
    3. Explanation
      It also covers loans, gifts, aid, military spending abroad and transfers.
      Item
      The balance of payments covers goods only
    4. Explanation
      Foreign aid belongs to the wider balance of payments, not the trade balance.
      Item
      Foreign aid sits in the balance of trade
Instructions
Tap the three false statements about trade balances to clear them from the board.
_Source: OpenStax Introduction to Business, section 3.1 Global Trade in the United States_

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