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Global Economy
Global Economy
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A #Business revision activity
Flashcards
25 cards
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Practice quiz
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Questions
25
Answers
1
Nestle, Vodafone, Toyota and Honda are all examples of
transnational corporations
economies
gross domestic products
consumers
2
A trade deficit is
when a country exports more than in imports
when a country imports more than it exports
when a country only exports
when a country only imports
3
An export is
a very important product
goods and services sold to overseas countries
a good or service sold in a store
goods and services bought from overseas countries
4
Which of the following is
not
a reason for globalisation?
improvements in communication
freedom of trade
trade barriers
improvements in transportation
5
An import is
goods and services bought from overseas countries
goods and services sent overseas to sell to another country
something very important
a good or service sold in a store
6
Which of the following is
not
an advantage of trade?
Local job losses
Exposure to other cultures
Provides employment for countries that export
Provides more competition, which can keep prices lower
7
Which of these is
not
part of the business sector?
Labour
Capital
Products
Land
8
What word describes the process of the world becoming increasingly
interconnected
?
globalisation
offshoring
market
outsourcing
9
Most of Australia's trading partners are in which continent?
Asia
America
Europe
Africa
10
Which of these is
not
a need?
ice-cream
oxygen
shelter
water
11
A process of examining the advantages and disadvantages of each alternative in a decision.
cost-deficit analysis
all-benefit analysis
cost-benefit analysis
cost-benefit evaluation
12
A person who makes goods or provides services is called a
customer
consumer
producer
product
13
The exchange rate for US$ is 0.71. To convert back from US$ to Australian dollars I would
divide by 0.71
add 0.71
subtract 0.71
multiply by 0.71
14
What is entrepreneurship?
Refers to the people who run a business
Refers to the skills of people who run a business
Refers to the workers in a company
An entryway on a ship
15
The exchange rate for US$ is 0.71. To convert from Australian to US$ I would
add 0.71
divide by 0.71
subtract 0.71
multiply by 0.71
16
TNC or transnational corporations are
companies that are conglomerations
companies that are national businesses
companies that operate solely within one country
companies that conduct business outside their home country
17
The household sector is
all people in the economy
all houses built in a tax year
all producers in the economy
all consumers in the economy
18
What is a labour?
Volunteer work
Refers to all the people who work
A political party
Not an essential part of the economy
19
Which of the following statements is
not
correct?
Employees receive wages for their labour.
Consumers are usually also employers.
Consumers use money and cards to purchase goods.
Businesses are producers that supply goods and services.
20
A trade surplus is
when a country exports more than in imports
when a country imports more than it exports
when a country only exports
when a country only imports
21
Which of the following is
not
a disadvantage of trade?
Local resources may be overused
Imports take money out of the country
A trade deficit can leave the economy at risk
Exposure to other cultures
22
Australia's top trading partner is
USA
China
Malaysia
England
23
Capital is
all buildings and equipment used in the production process
the ability to start up a new business
a major city
the employees that work for a company
24
When Australian tourists spend money while on holiday overseas, this is called
An invisible export
An import
An invisible import
An export
25
GDP stands for
Gross Domestic Product
Gross Dangerous Product
Great Domestic Product
Gross Domestic Project
