MCQ Chapter 11 International Business Class 11 Business Studies

Please refer to International Business MCQ Questions Class 11 Business Studies below. These MCQ questions for Class 11 Business Studies with answers have been designed as per the latest NCERT, CBSE books, and syllabus issued for the current academic year. These objective questions for International Business will help you to prepare for the exams and get more marks.

International Business MCQ Questions Class 11 Business Studies

Please see solved MCQ Questions for International Business in Class 11 Business Studies. All questions and answers have been prepared by expert faculty of standard 11 based on the latest examination guidelines.

MCQ Questions Class 11 Business Studies International Business

Question. 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

Question. 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

Question. 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

Question. MNC Stands for
(a) Multi-National Cooperation
(b) Multi-National Corporation
(c) Multi-National Company
(d) Multi-National Collaboration

Question. WTO stands for
(a) World technology association
(b) World time organization
(c) World trade organization
(d) World tourism organization

Question. ___________ 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

Question. Comparative Cost Trade Theory is given by
(a) Adam Smith
(b) David Ricardo
(c) Gottfried Haberler
(d) Heckscher Ohlin

Question. Capitalistic, communistic and Mixed are the types of
(a) Economic System
(b) Social System
(c) Cultural Attitudes
(d) Political System

Question. The Theory of Absolute Cost Advantage is given by
(a) David Ricardo
(b) Adam Smith
(c) F W Taylor
(d) Ohlin and Heckscher

Question. Ultimately ………………was replaced by the …………….on 1st Jan 1995
(a) GATS, WTO
(b) WTO, GATT
(c) GATT, WTO
(d) IMF, GATT

Question. Which of the following does not belong to the World Bank group?
(a) IBRD
(b) IDA
(c) MIGA
(d) IMF

Question. 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

Question. 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

One Marks Questions

Question. Expand WTO
Answer: World Trade Organisation

Question. Expand FTZ.
Answer: Free Trade Zones

Question. Expand IIFT.
Answer: Indian Institute of Foreign Trade

Question. What is D.P bill?
Answer: DP inpayment term of imports and exports means Documents against Payments.

Question. Expand BOL.
Answer: Bill of Lading

Question. Expand UNCTAD.
Answer: United Nations Conference on Trade and Development.

Question. Expand EOU.
Answer: Export Oriented Units

Question. Foreign investment can be of two types
(a) Domestic and International investment
(b) Direct and Portfolio
(c) Licencing and Franchising
(d) Direct and Franchising

Question. Which one of the following modes of entry requires a higher level of risks?
(a) Licensing
(b) Contract manufacturing
(c) Franchising
(d) Joint venture

Question. Which of the following documents are not required for obtaining an export license?
(a) IEC number
(b) Registration cum membership certificate
(c) Letter of credit
(d) Bank account number

Question. Which of the following documents is not required in connection with an import transaction?
(a) Certificate of origin
(b) Bill of lading
(c) Shipping bill
(d) Shipment advice

Question. W.T.O is the only organization dealing with the:
(a) Home trade rules
(b) Entrepot trade rules
(c) Global trade rules
(d) None of the above

Question. Import trade procedure starts with
(a) Obtaining quota
(b) Arranging L.C
(c) Trade enquiry
(d) Placing Indent

Question. When two or more firms come together to create a new business entity that is legally separate and distinct from its parents it is known as
(a) Franchising
(b) Contract manufacturing
(c) Joint Ventures
(d) Licensing

Question. A receipt issued by the commanding officer of the ship when the cargo is loaded on the ship is known as
(a) Cargo receipt
(b) Mate receipt
(c) Shipping receipt
(d) Charter receipt

Question. Which one of the following is not a part of export documents?
(a) Commercial invoice
(b) Mate’s receipt
(c) Certificate of origin
(d) Bill of entry

Question. In which of the following modes of entry, does the domestic manufacturer give the right to use intellectual property such as patent and trademark to a manufacturer in a foreign country for a fee
(a) Joint venture
(b) Licensing
(c) Contract manufacturing
(d) None of the above

Question. Policy formulation comes under which role?
(a) Top-level managers
(b) Middle-level managers
(c) Operational management
(d) All of the above  

Question. In which of the following modes of entry, does the domestic manufacturer give the right to use intellectual property such as patent and trademark to a manufacturer in a foreign country for a fee
(a) Licensing
(b) Contract manufacturing
(c) Joint venture
(d) None of these  

Question. IBRD (International Bank for Reconstruction and Development) also known as
(a) Exim Bank
(b) World Bank
(c) International Monetary fund
(d) International Bank  

Question. _______ is the first step in the internationalization process.
(a) License
(b) Foreign Investment
(c) Sales
(d) Export  

Question. Merchandise means:
(a) Goods that are intangible
(b) Goods that are tangible
(c) Patents
(d) None of the above  

Question. Import trade procedure starts with
(a) Obtaining quota
(b) Arranging L.C
(c) Trade enquiry
(d) Placing Indent  

Question. Interest payments on loans borrowed abroad are recorded in
(a) Capital Account
(b) Current Accounts
(c) Errors and Omission Section
(d) Official Reserve Account  

Question. Which of the following is not an advantage of exporting?
(a) Easier way to enter into international markets
(b) Comparatively lower risks
(c) Limited presence in foreign markets
(d) Less investment requirements  

Question. The OECD stands for:
(a) Organization for Economic Co-operation and Development
(b) Organization for Economic Coordination and Development
(c) Organization for Environmental Cooperation and Development
(d) Organization for Environmental Control and Development  

Question. Which is not a part of custom documentation process:
(a) Shipping bill
(b) Export license
(c) Insurance letter
(d) Proforma invoice.  

Question. The Theory of Relative Factor Endowments is given by
(a) David Ricardo
(b) Adam Smith
(c) F W Taussig
(d) Ohlin and Hecksher  

Question. India became member of World Bank in the year:
(a) 1950
(b) 1948
(c) 1945
(d) 1949.  

Question. “It gives birth to a foreign territory within the home country for trading and for imposing duties”. What is referred to in this statement
(a) EPZ
(b) SEZ
(c) Superstar trading houses
(d) Deemed exports  

Question. TRIP is one of the WTO agreements that deals with:
(a) Agricultural trade
(b) Service trade
(c) Trade related investment measures
(d) None of these.  

Question. Foreign investments can be:
(a) Direct investment
(b) Portfolio investment
(c) Both of the above
(d) None of the above