Worksheet: International Business | Business Studies (BST) Class 11 - Commerce PDF Download

Multiple Choice Questions (MCQs)

Q1: What is the primary reason for international business?
A) National self-sufficiency
B) Unequal distribution of resources
C) Simplified trade regulations
D) Decreased competition

Q2: Which organization is primarily involved in easing global trade?
A) World Health Organization
B) World Trade Organization
C) International Monetary Fund
D) World Bank

Q3: What is a key characteristic of international business compared to domestic business?
A) Simpler regulations
B) Same currency used
C) Diverse stakeholders
D) Uniform customer preferences

Q4: Which mode of entry involves minimizing foreign investment risks?
A) Wholly Owned Subsidiaries
B) Licensing
C) Joint Ventures
D) Contract Manufacturing

Q5: What is the primary document required for customs clearance in export?
A) Bill of Lading
B) Import Order
C) Certificate of Origin
D) Export Invoice

Fill in the Blanks

Q1: The principle of producing what each country does best is known as ___________.

Q2: International business includes trade in goods, services, and ___________.

Q3: The document that guarantees payment in international trade is called a ___________.

Q4: A ___________ is a partnership between two or more firms to share resources and risks.

Q5: Exporting involves sending goods from a ___________ country to a foreign country.

True or False

Q1: International business only involves the movement of goods and services.

Q2: A wholly owned subsidiary allows the parent company full control over operations.

Q3: Domestic business operates under the laws of multiple countries.

Q4: Licensing involves granting rights to use patents in exchange for a royalty.

Q5: The main benefit of international business is reduced competition.

Short Answer Questions

Q1: What is international business?

Q2: Why do countries engage in international business?

Q3: What are some differences between domestic and international business?

Q4: What is exporting?

Q5: What is a joint venture?

Long Answer Questions

Q1: Explain the meaning of international business and how it differs from domestic business.

Q2: Discuss the reasons behind the growth of international business.

Q3: Compare and contrast the various modes of entry into international business.

Q4: What are the major documents needed in export transactions, and why are they important?

Q5: Analyze the benefits of international business for both countries and firms.

You can access the solutions to this worksheet here.