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PBM Module 3 Test: Business in the Global Economy

Quiz by Pa'Trice Day Owens

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24 questions
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  • Q1
    Most business activities occur within a country's own borders.
    True
    False
    60s
  • Q2
    Without foreign trade, all of the items you buy cost less, because they would not need to be shipped
    False
    True
    60s
  • Q3
    A nation with a trade surplus is said to have a favorable trade position
    True
    False
    60s
  • Q4
    When a country has a favorable balance of payments, the value of its currency is usually constant or rising.
    False
    True
    60s
  • Q5
    A joint venture is an agreement between two or more countries to remove duties and trade barriers on products traded among them.
    True
    False
    60s
  • Q6
    A franchise is a right to use a company name or business process in a specific way.
    False
    True
    60s
  • Q7
    The exchange rate is the value of a currency in one country compared with the value in another.
    True
    False
    60s
  • Q8
    A multinational company is an organization that does business within its country only.
    True
    False
    60s
  • Q9
    The making, buying and selling of foods and services within a country is called
    Domestic business
    international business
    importing
    world trade
    60s
  • Q10
    Goods and services sold to other countries are called
    exports
    tarriffs
    imports
    contraband
    60s
  • Q11
    The difference between a country's total exports and total imports is called the
    trade deficit
    foreign debt
    balance of trade
    trade surplus
    60s
  • Q12
    Which of the following scenarios is likely to cause the values of a country's currency to rise
    higher interest rate
    increased demand for the nation's products and currency
    long period of inflation
    sudden change in government
    60s
  • Q13
    The tax that a government palaces on certain imported products is called an
    embargo
    Diversiture
    tarriff
    quota
    60s
  • Q14
    A limit that a government places on the quantity of a product that may be exported or imported during a given period is called a
    trade surplus
    embargo
    tarriff
    quota
    60s
  • Q15
    Which is NOT a goal of the World Trade Organization?
    Help poor countries with economic growth and free trade agreements between members
    lower tariffs
    Strengthen import quotas
    help poor countries with economic growth
    60s

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