International Business Exam:
An organization that produces a good or offers a service in exchange for money with the goal of making a profit is known as a...
OPEC
Transaction business
Business
Non-profit organization
What is investing in businesses by purchasing foreign stocks, bonds, and other financial instruments?
Portfolio Investment
Foreign Direct Investment
Protectionism
Hostile Takeover
How do you calculate the Balance of Trade for a country?
Exports - imports
Exports + imports
Imports - exports
Liabilities + owner's equity
As of 2021, what is Canada's approximate population?
26 million
36 million
38 million
105 million
Bringing products or services into a country from another country, is known as...
A sanction
Buying forward
Importing
Exporting
Honda (Canada), Toyota (Canada) and Bombardier (USA) are all examples of what?
Protectionism
Joint Ventures
Foreign Subsidiaries
Franchises
Who invented time zones?
Catherine Griswold
Thomas Edison
Leonardo da Vinci
Sandford Fleming
McDonald's, Tim Hortons, Subway, Maaco and Kernels are all examples of...
Sole proprietorships
Profit centres
Franchisees
Franchisors
What are defined as products or services brought into a country for trade?
Exports
Imports
Balance of trade
FDI
What term is used for the amount of worth that is added to a product as it is processed.
Inflation
Economic utility
Value added
Valuation
Today who are Canada's two largest trading partners?
US & China
US & Mexico
US & EU
US & Japan
For a piece of music to be considered Canadian Content, how many of the MAPL conditions must be met?
1
2
3
4
What is the largest industry/sector in Canada?
Oil
Technology
Lumber
Automotive
Buying currency at the time the order is placed, to avoid currency fluctuations, is a strategy known as what?
Buying forward
Terms of trade
Currency fluctuation management
Buying backward
This allows a company to be the only distributor of a product in a geographic area, or in a specific country
Territorial bargain
Contract
Value added
Exclusive distribution rights
A trade sanction will most likely do what to the price of an affected product or service?
Decrease the price
Increase the price
Have no effect on the price
Decrease the price by the related tariff rate
As of 2023, how many member nations are a part of the ISO?
163
89
167
182
What is the purchase of stocks, bonds and other financial instruments issued by Canadian firms called?
FDI
Portfolio investment
Investment Canada Act
Short investment
The Canada-US-Mexico Agreement, which replaced NAFTA in 2020, is also known as
CUSMFTA
CUSMA
CMUSA
NAFTA 2.0
The European Union presently has how many member countries?
17
18
27
28
The CRTC is the...
Canadian Radio-television and Telecommunications Commission
Canadian Radio and Telecommunications Committee
Canadian Radio and Television and Committee
Canadian Radio and Television and Commission
95% of Canada's oil reserves are located...
Off the coast of Newfoundland.
In the Alberta oil sands.
In the Saskatchewan plains.
Deep underneath Lake Ontario.
Bell Canada has a ________________________ with the UK based Virgin Mobile to use its brand in Canada.
Contract
Franchise
Licensing agreement
Value added agreement
CKFTA is an abbreviation for the...
Canada-Kazakhstan Free Trade Agreement
Canada-Korea Free Trade Area
Canada-Kenya Free Trade Area
Canada-Korea Free Trade Agreement
What is FDI short for?
Factory Direct Income
Foreign Direct Investment
Foreign Diverse Investment
Favourable Dealings Institution
What is the ISO?
Internal Operating System
International Organization for Standardization
International Standardization Organization
Isolation
CETA is an acronym for...
Comprehensive Economic and Trade Agreement
Canada-Europe Trade Agreement
Comprehensive European Trade Agreement
Canadian Economic Tariff Act
B2B is short for...
Business-to-Business
Boston-to-Beijing
Back-to-Basics
Builder-to-Builder
Of the following countries, which country is listed as one of the top three countries that Canada exports to?
United Kingdom
Japan
Mexico
Germany
Canada's oil reserves rank _______ in the world.
1st
2nd
3rd
7th
In general, what is the theory or practice of shielding domestic industries from foreign competition, often through trade barriers such as tariffs called?
Duties
Protectionism
Outsourcing
Safety and environmental barriers
What is a government imposed limit on the amount of product that can be imported from a certain country over a certain period of time.
Trade quota
Trade embargo
Protectionism
Trade sanction
Of the following people, who would benefit the most from a lower Canadian dollar?
American importer
Canadian tourist
Canadian importer
Canadian exporter
How many countries are members of the CUSMA?
3
8
30
27
In what year were the Cancon rules for music first enacted?
1961
1970
1971
1975
People who have an intense dislike, or fear, of people from other countries are said to have this.
Arachnophobia
Phobophobia
Xenophobia
Batrachophobia
Generally speaking, why do people have a broader understanding of cultures than ever before?
More multiculturalism
Better computers
Cell phones
Social media
How did Roots modify its product offerings when they expanded to China and Taiwan?
They changed their logo to fit in with local culture.
They didn't modify their product offerings.
They changed their brand name.
They changed their clothing by using lighter fabrics.
Of the countries we studied in class, which has a Thursday to Saturday weekend?
Australia
Saudi Arabia
India
Brazil
What is a cultural group within a larger or predominant culture, distinguished from it by factors such as class, ethnic background, religion or lifestyle?
Caste
Subculture
Popularism
Tribe
As of 2016, what is the fastest-growing language in Canada, according to your text? is (Filipino language), followed by , Farsi, Hindi & Urdu
Mandarin
Tagalog
Hindi
Arabic
The three cultural determinants are
History, geography & religion
Geography, law & religion
history, geography & law
History, law & religion
Guanxi, the concept of building a network of relationships for business and personal use, is found in which country?
South Korea
Japan
China
Canada
Generally speaking, Canadian companies marketing alcoholic beverages would not do well in which country?
Saudi Arabia
China
Brazil
Israel
People who want to influence change in society, which could include people who listen to punk rock music, follow street art or believe in the Occupy Wall Street movement could be said to be a part of this.
Subculture
Counterculture
Multiculturalism
Culture
Approximately what percentage of the maple syrup harvested and created in North America comes from Canada?
50%
65%
80%
87%
In what country is GM's luxury Buick minivan, the GL8, sold?
China
Japan
Canada
Brazil
What are Fair Wages?
Wages plus a reasonable commission.
Minimum wage
Wages that are considered reasonable for the type of work done
Minimum wage + 10%
Guanxi, the concept of building a network of relationships for business and personal use, is found in which country?
Canada
Japan
China
South Korea
After English and French, what is the most commonly spoken language in Canada, as of 2016?
Hindi
Tagalog
Arabic
Mandarin
In what country did the Fukushima nuclear disaster take place?
Japan
United Kingdom
Indonesia
France
What does the IMF stand for?
Investment Money Fund
International Monetary Fund
International Monetary Finance
International Monetary Fun
Under which US president did the US withdraw from the Paris Agreement?
Ronald Regan
Donald Trump
Barack Obama
Joe Biden
Of the following countries, which is the largest producer of uranium?
Australia
Canada
Kazakhstan
China
In 2014, what agreement approved by authorities in Luxembourg, facilitated tax avoidance by approximately 350 multinational companies?
Benelux
LuxLeaks
NAFTA
Brexit
What was WTO's predecessor?
GATT
PWTO
IMF
NATO
In what year did the Fukushima nuclear disaster take place?
2000
2021
1984
2011
How many nations were members of OPEC when it was founded?
5
7
13
31
Of the following countries, which is not a permanent member of the United Nations Security Council?
United States
China
France
Canada
What is the name for the free trade agreement between Canada and the European Union?
CFEE
CUSMA
CEUA
CETA
What is the main goal of the Paris Agreement?
Peace
More French being spoken around the world
Free trade
Reduction of greenhouse gas emissions
Where is the European Union headquarters located?
Brussels, Belgium
Rome, Italy
Paris, France
Geneva, Switzerland
Which international business strategy uses centralized decision making, uniform products and marketing and considers the world one big marketplace?
Transnational strategy
Domestic strategy
Multidomestic strategy
Global strategy
In which US state was the World Bank founded?
New Hampshire
New Jersey
New York
Maryland
What event had caused the G20 to be established?
1963 Assassination of John F. Kennedy
2014 Russian Invasion of Ukraine
1997-1999 Asian Financial Crisis
2001 Twin Tower Bombing
In total, how many members are there in the United Nations Security Council?
20
5
15
32
Of the following countries, which one does NOT have a free trade agreement with Canada?
Israel
Jordan
South Korea
Norway
In what country is the APEC headquarters located?
Japan
United States
Australia
Singapore
Which trade agreement did the CUSMA replace?
USMCA
GATT
NAFTA
T-MEC
As of 2022, how many countries are in the European Union?
12
27
28
44
If Canada's total exports to the United States (in August 2021) were $31.1 billion and imports were $25.5 billion, what would Canada's balance of trade with the United States be?
$5.6 billion
$-5.6 billion
$4.3 billion
$1.2 billion
The above is an example of...
Trade surplus
Trade deficit
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