MCQ Questions for Class 11 Business Studies Chapter 12 International Business 2 with Answers

Check the below NCERT MCQ Questions for Class 11 Business Studies Chapter 12 International Business 2 with Answers Pdf free download. MCQ Questions for Class 11 Business Studies with Answers were prepared based on the latest exam pattern. We have provided International Business 2 Class 11 Business Studies MCQs Questions with Answers to help students understand the concept very well.

Class 11 Business Studies Chapter 12 International Business 2 MCQ With Answers

Business Studies Class 11 Chapter 12 MCQs On International Business 2

International Business MCQ Chapter 12 Class 11 Question 1.
TRIP is one of the WTO agreements that deal with
(a) Trade in agriculture
(b) Trade in services
(c) Trade related investment measures
(d) None of these

Answer

Answer: (d) None of these

International Business Management MCQ Chapter 12 Class 11  Question 2.
The document containing the guarantee of a bank to honour drafts drawn on it by an exporter is
(a) Letter of hypothetication
(b) Letter of credit
(c) Bill of lading
(d) Bill of exchange

Answer

Answer: (b) Letter of credit

MCQ On International Business Chapter 12 Class 11 Question 3.
A receipt issued by the commanding officer of the ship when the cargo is loaded on the ship is known as
(a) Shipping receipt
(b) Mate receipt
(c) Cargo receipt
(d) Charter receipt

Answer

Answer: (b) Mate receipt

International Business MCQs Chapter 12 Class 11 Question 4.
Which one of the following is not a document related to fulfill the customs formalities
(a) Shipping bill
(b) Export license
(c) Letter of insurance
(d) Proforma invoice

Answer

Answer: (d) Proforma invoice

International Business Management MCQ Questions Chapter 12 Class 11  Question 5.
Which of the following documents is not required in connection with an import transaction?
(a) Bill of lading
(b) Shipping bill
(c) Certificate of origin
(d) Shipment advice

Answer

Answer: (c) Certificate of origin

MCQ Of International Business Chapter 12 Class 11 Question 6.
SMEs stands for:
(a) Small and Medium Entrepreneurs
(b) Small Management of Enterprises
(c) Small and Medium-sized Enterprises.
(d) Societies for Managing Exports

Answer

Answer: (c) Small and Medium-sized Enterprises.

MCQs On International Business Chapter 12 Class 11 Question 7.
MNC Stands for
(a) Multi-National Cooperation
(b) Multi-National Corporation
(c) Multi-National Company
(d) Multi-National Collaboration

Answer

Answer: (b) Multi-National Corporation

International Business MCQ With Answers Chapter 12 Class 11 Question 8.
IPR stands for
(a) Intellectual property rights
(b) International property rights
(c) Internal promotion rights
(d) Interior promotional rights

Answer

Answer: (a) Intellectual property rights

International Business MCQ With Answers Pdf Chapter 12 Class 11 Question 9.
WTO stands for
(a) World technology association
(b) World time organization
(c) World trade organization
(d) World tourism organization

Answer

Answer: (c) World trade organization

International Business Economics MCQ Chapter 12 Class 11 Question 10.
…..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

Answer: (a) GATT, WTO

International Business MCQ With Answers Pdf Download Chapter 12 Question 11.
…………………corporation produces in the home country or in a single country and focuses on marketing these products globally or vice a versa.
(a) Global
(b) International
(c) Transnational
(d) None of the above

Answer

Answer: (a) Global

MCQ Questions On International Business Chapter 12 Class 11 Question 12.
Key controllable factors in global marketing are:
(a) Government policy and legislation
(b) social and technical changes
(c) marketing activities and plans
(d) all of the above.

Answer

Answer: (c) marketing activities and plans

International Business MCQ Questions And Answers Chapter 12 Class 11 Question 13.
Comparative Cost Trade Theory is given by
(a) Adam Smith
(b) David Ricardo
(c) Gottfried Haberler
(d) Heckscher Ohlin

Answer

Answer: (b) David Ricardo

MCQs Of International Business Chapter 12 Class 11 Question 14.
Globalization refers to:
(a) Lower incomes worldwide
(b) Less foreign trade and investment
(c) Global warming and their effects
(d) A more integrated and interdependent world

Answer

Answer: (d) A more integrated and interdependent world

International Business MCQ Questions Chapter 12 Class 11 Question 15.
Capitalistic, communistic and Mixed are the types of
(a) Economic System
(b) Social System
(c) Cultural Attitudes
(d) Political System

Answer

Answer: (a) Economic System

Question 16.
The theory of comparative cost advantage is given by
(a) David Ricardo
(b) Adam Smith
(c) F W Taussig
(d) Ohlin and Hecksher

Answer

Answer: (a) David Ricardo

Question 17.
The Theory of Absolute Cost Advantage is given by
(a) David Ricardo
(b) Adam Smith
(c) F W Taylor
(d) Ohlin and Heckscher

Answer

Answer: (b) Adam Smith

Question 18.
Subsidiaries consider the regional environment for policy / Strategy formulation is known as
(a) Polycentric Approach
(b) Regiocentric Approach
(c) Ethnocentric Approach
(d) Geocentric Approach

Answer

Answer: (b) Regiocentric Approach

Question 19.
Ultimately ………………was replaced by the …………….on 1st Jan 1995
(a) GATS, WTO
(b) WTO, GATT
(c) GATT, WTO
(d) IMF, GATT

Answer

Answer: (c) GATT, WTO

Question 20.
The first phase of globalization started around 1870 and ended with …..
(a) World War I
(b) World War II
(c) The Establishment of GATT
(d) In 1913 when GDP was High

Answer

Answer: (a) World War I

Question 21.
Which of the following does not belong to the World Bank group?
(a) IBRD
(b) IDA
(c) MIGA
(d) IMF

Answer

Answer: (d) IMF

Question 22.
Which of the following document is prepared by the exporter and includes details of the cargo in terms of the shipper’s name, the number of packages, the shipping bill, port of destination, name of the vehicle carrying the cargo?
(a) Shipping bill
(b) Packaging list
(c) Mate’s receipt
(d) Bill of exchange

Answer

Answer: (d) Bill of exchange

Question 23.
Which one of the following is not a part of export documents?
(a) Commercial invoice
(b) Certificate of origin
(c) Bill of entry
(d) Mate’s receipt

Answer

Answer: (c) Bill of entry

Question 24.
Which of the following do not form part of duty drawback scheme?
(a) Refund of excise duties
(b) Refund of customs duties
(c) Refund of export duties
(d) Refund of income dock charges at the port of shipment

Answer

Answer: (d) Refund of income dock charges at the port of shipment

Question 25.
Which of the following documents are not required for obtaining an export license?
(a) IEC number
(b) Letter of credit
(c) Registration cum membership certificate
(d) Bank account number

Answer

Answer: (b) Letter of credit

One Marks Questions

1. Expand IEC.

Answer

Answer: Import Export Code.

2. Expand WTO

Answer

Answer: World Trade Organisation

3. Mention any one document of export trade.

Answer

Answer: Shipping Bill

4. Expand FTZ.

Answer

Answer: Free Trade Zones

5. Expand SEZ.

Answer

Answer: Special Economic Zones

6. Expand IIFT.

Answer

Answer: Indian Institute of Foreign Trade

7. Expand IMF.

Answer

Answer: International Monetary Fund

8. What is D.P bill?

Answer

Answer: DP inpayment term of imports and exports means Documents against Payments.

9. What is D.A bid?

Answer

Answer: DA in payment term of international trade means, Documents against Acceptance

10. Expand BOL.

Answer

Answer: Bill of Lading

11. Expand EIC.

Answer

Answer: Export Inspection council

12. Expand UNCTAD.

Answer

Answer: United Nations Conference on Trade and Development.

13. Expand EPZ.

Answer

Answer: Export Processing Zones.

14. Expand EOU.

Answer

Answer: Export Oriented Units

15. Name any one export processing zone.

Answer

Answer: Cochin export processing zone

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