IB Chapter 3

Question 1

situation in which a country specializes in the production of a good or service at which it's relatively more efficient

Accepted Answer

comparative advantage

Question 2

Advanced technology allows for companies to create and deliver goods, services and ideas slowly

Accepted Answer

False

Question 3

Which of the following is not a common method used for global business?

Accepted Answer

Sole proprietorship

Question 4

Which is not one of the geographic factors in the international business environment?

Accepted Answer

trade barriers

Question 5

Countries with better education systems provide better goods and services

Accepted Answer

True

Question 6

Which is not one of the cultural factors in the international business environment?

Accepted Answer

education

Question 7

How would a world without foreign trade affect goods and services you need today?

Accepted Answer

none of the above

Question 8

Which is not one of the economic factors in the international business environment?

Accepted Answer

Business regulations

Question 9

Domestic business is done across boarders

Accepted Answer

False

Question 10

Which of the following is not a good or service produced in the US that is consumed by people around the world?

Accepted Answer

None of the above

Question 11

Which is not one of the political/legal factors in the international business environment?

Accepted Answer

exchange rates

Questions 11