Question

1. A decision to go international forces one to face

a. at least 3 types of environments domestic, international, and foreign
b. it is difficult to really know what the individual will face
c. at least two types of environments: domestic and foreign
d. at least two types of environments: domestic and international
e. at least two types of environments: foreign and international

2. Mr. jones made a terrible mistake by miscalculating the natural land surfaces of the country of ghana, causing him to choose inappropriate form of transportation. In international business, this problem can best be referred to as a:

a. cultural force of doing business
b. physical force of doing business
c. legal force of doing business
d. environmental force of doing business
e. political force of doing business

3. Balance of payment can be defined as

a. a record of a nation's international financial transactions
b. a business account of inflows and outflows of goods
c. a business account of debit and credit of companies
d. a record of a nation's gold and metal reserves

4. The EU can best be compared to

a. NAFTA of America, Canada and the UN
b. B and C above
c. NAFTA of America and Mexico
d. NAFTA of the United Nations
e. NAFTA of America, Mexico and Canada

5. In international business, the war in the middle east can best be referred to as a

a. environmental force of doing business
b. legal force of doing business
c. physical force of doing business
d. political force of doing business
e. cultural force of doing business

6. In international transaction, the bill of lading refers to

a. A contract between the exporter and the transportation carrier so the carrier can transport the goods to the importer
b. Terms of sale between the importer and the exporter
c. A and B above
d. B and C above
e. A statement of goods purchased, the importer, and the exporter

Answer 1

1. OPTION C)  at least two types of environments: domestic and foreign

2. physical force of doing business- infrastructure, roads, transportation etc. come under this umbrella.

3. option a) a record of a nation's international financial transactions is called the balance of payments

4. option e) e. NAFTA of America, Mexico and Canada- Both are trade agreements aimed at lowering trade barriers among member nations.

5) political force of doing business- a war is an example of political unstability which would pose risks to business

6) option a) A contract between the exporter and the transportation carrier so the carrier can transport the goods to the importer