Ultimately ……………… was replaced by the …………….on 1st Jan 1995
GATT/WTO
GATS/IMF
WTO/WORLD BANK
WORLD BANK/WIPO
Correct Answer :
A. GATT/WTO
Related Questions
The following factor does not differentiate international business from domestic business
different currencies
product quality
product mobility
trade policies
Theory of Mercantilism propagates
Encourage imports and exports
Encourage exports and discourage imports
Discourage imports
None of these
General Agreement on Trade in Services will not be applicable to
Services supplied from one country to another cross border supply
Transaction of goods across the border Export Import
Individuals traveling from own country to supply services in another presence of natural persons.
Consumers/firms making use of a service in another country consumption abroad
Power distance Index (PDI) of 77 compared to a world average of 56.5 for India indicates
High level of inequality of power and wealth within the society
Normal Power and Wealth
High level of political corruption
Low level of Human Development Index
As a part of WTO guidelines, Agreement on Agriculture (AOA) doesnt consider
Direct payments to farmers are permitted.
Indirect assistance and support to farmers including R & D support by govt. are not permitted.
Domestic policies which directly effect on production and trade have to be cut back.
Least developed countries do not need to make any cuts.
The world trade organization was formed in the year _________ with GATT as it basis.
1992
1993
1995
1994
Social stratification is done based on
Income level.
caste.
education.
any of the above.
International business does not result in the following
Innovation is encouraged.
International cooperation is encouraged.
Imports are rendered cheap.
Consumption is minimized.
The following is not a component of culture
Attitudes.
Beliefs.
Education.
Life expectancy.
Free international trade maximizes world output through
Countries specializing in production of goods they are best suited for.
Reduction in taxes.
Increased factor income.
Encouraging competition.
In a business cycle, the phase preceding prosperity is
recession.
depression.
recovery.
recession or depression.
________theory states that, lack of resources often helps countries to become competitive
Competitive theory
Porters Diamond Model
Theory of Mercantilism
Product life cycle theory
An attribute that doesnt contribute to Porters Diamond model is
Government
Organized Trade union
Factor Conditions
Demand Conditions
3.Identify a factor that doesnt play an important role in attracting FDI
Language
Laws, rules and regulations
Cost of resources
Infrastructure related factors
No new investment in the host country is created in the case of
Greenfield FDI.
Acquisition.
Horizontal FDI.
Vertical FDI.
The world trade organization was formed in the year _________ with GATT as it basis.
1993
1994
1995
1996
Analysing the business environment best assists in
Identifying key competitive forces; identifying competitive position; identifying key opportunities, threats, strengths and weaknesses.
Auditing macro environmental influences; identifying key competitive forces; identifying competitive position; identifying key opportunities and threats.
Auditing external and organisational factors; identifying key competitive forces; identifying competitive position; identifying key opportunities and threats.
Assessing historical trends; auditing environmental dangers; identifying strategic capabilities; identifying competitive position.
Lower power distance countries are characterized by
relationships based on equality and informality.
authority being accepted without question.
managers being paternalistic.
tall organizations structure.
Countries/ regions with huge market size will attract
Market seeking FDI.
Efficiency seeking FDI.
Vertical FDI.
Created assets seeking FDI.
For a country with relatively lower level of cost of living PPP per capita GNI will be
lower than per capita GNI.
higher than per capita GNI.
same as per capita GNI.
may be lower or higher than per capita GNI.
For the society, religion has no influence on
holidays.
language.
role of women.
marketing practices.
Ownership of intellectual property is recognized in law by granting
Licenses.
Patents.
Copyrights.
Patent, copyright or trademark as appropriate.
According to this theory the holdings of a countrys treasure primarily in the form of gold constituted its wealth.
Gold Theory
Ricardo Theory
Mercantilism
H .O. THEORY
India is an
Emerging economy
Developed economy
Less developed economy
None of these
The role of women is restricted in
Eastern countries.
Middle East countries.
Traditional Islamic countries.
India.
Ultimately ……………… was replaced by the …………….on 1st Jan 1995
GATT/WTO
GATS/IMF
WTO/WORLD BANK
WORLD BANK/WIPO
Non- verbal communication
includes written communication.
has no place in international business.
includes body language.
should be learnt by business managers to communicate with foreigners.
The first phase of globalization started around 1870 and ended with …
The World War I
The World War II
The Establishment of GATT
In 1913 when GDP was high
General Agreement on Trade in Services will not be applicable to
Services supplied from one country to another cross border supply
Transaction of goods across the border Export Import
Individuals traveling from own country to supply services in another presence of natural persons.
Consumers/firms making use of a service in another country consumption abroad.
A country in the stage of traditional society is characterized by
existence of traditional rule.
non existence of industries.
predominance of agriculture.
complete absence of literacy.