International Business MCQ
21. The Theory of Absolute Cost Advantage is given by ______
a. David Ricardo
b. Adam Smith
c. F W Taylor
d. Ohlin and Heckscher
Answer:-
b. Adam Smith
22. The Theory of Relative Factor Endowments is given by ______.
a. David Ricardo
b. Adam Smith
c. F W Taussig
d. Ohlin and Hecksher
Answer:-
d. Ohlin and Hecksher
23. The theory of comparative cost advantage is given by ______.
a. David Ricardo
b. Adam Smith
c. F W Taussig
d. Ohlin and Hecksher
Answer:-
a. David Ricardo
24. Comparative Cost Trade Theory is given by ______
a. Adam Smith
b. David Ricardo
c. Gottfried Haberler
d. Heckscher Ohlin
Answer:-
b. David Ricardo
25. ________ is the payment method most often used in International Trade which offers the exporter best assurance of being paid for the products sold internationally.
a. Bill of Lading
b. Letter of Credit
c. Open Account
d. Drafts
Answer:-
b. Letter of Credit
26. This is only a legal agreement and it is not an institution, but ______ is a permanent institution.
a. GATT, WTO
b. WTO, GATT
c.WTO, IMF
d. IMF, GATT
Answer:-
GATT, WTO
27. The WTO was established to implement the final act of Uruguay Round agreement of _______
a. MFA
b. GATT
c. TRIP’s
d. UNO
Answer:-
b. GATT
28. WTO stands for ______
a. World technology association
b. World time organization
c. World trade organization
d. World tourism organization
Answer:-
c. World trade organization
29. NAFTA stands for ______
a. North African trade association
b. North American free trade agreement
c. Northern Atlantic trade agreement
d. Northern association for trade
Answer:-
b. North American free trade agreement
30. The main promoter of trade liberalization was ______.
a. GATT
b. NAFTA
c. CEPTA
d. CISA
Answer:-
a. GATT
31. Select an example of Indian Multinational Company.
a. Hindusthan Unilever
b. Videocon
c. Cargill
d. Tesco
Answer:-
b. Videocon
