Why do countries engage in international trade, according to the text?

To reduce competition among domestic businesses.

To avoid foreign cultures and markets.

To meet the demands for goods and services they can't produce efficiently.

To minimize foreign investments.

What is the concept of comparative advantage?

When a country can produce all goods and services it needs.

When a country can make more products with fewer resources than others.

When a country specializes in exporting high-tech products.

When a country has the absolute advantage in all industries.

Why might a multinational company prefer hiring local talent in foreign markets rather than using expatriates?

Local talent is usually less skilled.

Hiring expatriates is more cost-effective.

Cultural and language barriers can be minimized.

Local talent is more expensive.

What is the significance of controlling in international management?

It helps standardize all operations globally.

It is mainly focused on reducing costs.

It is less crucial in multinational business.

It ensures compliance with legal restrictions.

Which measure indicates that a country has a trade surplus?

The value of imports exceeds the value of exports.

The value of exports exceeds the value of imports.

The total value of imports and exports is equal.

Why do some experts express concerns about a country having a continuously growing trade deficit?

A growing trade deficit encourages foreign investments.

It may lead to a decrease in the country's national income.

Trade deficits are always positive for a nation's economy.

Trade deficits have no impact on a country's financial stability.

What does the balance of payments measure?

The balance of trade between two specific countries.

The difference between a country's total income and total expenditures.

The balance between domestic and international production.

The balance between government spending and taxation.

Which of the following factors contributes to the complexity of the controlling function in international management?

Language barriers and cultural differences.

Uniform legal regulations across all countries.

Minimal variations in employee attitudes.

In the context of international management, what does the term "expatriates" refer to?

Local employees hired in foreign markets.

Domestic employees working for multinational companies.

International consultants specializing in culture.

Employees who live and work in another country.

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