NCERT Class 11 Chapter 11 Business Studies International Business 2 MCQ

NCERT Class 11 Chapter 11 Business Studies International Business 2 MCQ | Questions & Answers: The students of the Class 11 should make use of this article where we have accommodated the NCERT Chapter 11 Business Studies International Business 2 MCQ Quiz. The Quiz will be helpful for you guys in knowing where you stand with regard to your knowledge and where you need to improve. Hence, attempt the quiz and finally know the correct answers for it too.

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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

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

A. Letter of hypothecation

B. Letter of credit

C. Bill of lading

D. Bill of exchange

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

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

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

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

7. MNC Stands for

A. Multi-National Cooperation

B. Multi-National Corporation

C. Multi-National Company

D. Multi-National Collaboration

8. IPR stands for

A. Intellectual property rights

B. International property rights

C. Internal promotion rights

D. Interior promotional rights

9. WTO stands for

A. World technology association

B. World time organization

C. World trade organization

D. World tourism organization

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

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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

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.

13. Comparative Cost Trade Theory is given by

A. Adam Smith

B. David Ricardo

C. Gottfried Haberler

D. Heckscher Ohlin

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

15. Capitalistic, communistic and Mixed are the types of

A. Economic System

B. Social System

C. Cultural Attitudes

D. Political System

16. The theory of comparative cost advantage is given by

A. David Ricardo

B. Adam Smith

C. F W Taussig

D. Ohlin and Hecksher

17. The Theory of Absolute Cost Advantage is given by

A. David Ricardo

B. Adam Smith

C. F W Taylor

D. Ohlin and Heckscher

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

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

A. GATS, WTO

B. WTO, GATT

C. GATT, WTO

D. IMF, GATT

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

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

A. IBRD

B. IDA

C. MIGA

D. IMF

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

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

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

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