International Business Environment MCQ with Answers
International Business Environment MCQ Multiple Choice Questions with answers, these notes are useful for the preparation of various competitive and academic exams like UGC, NET, BCOM, MCOM, MBA, BBA and many other regular and distance education exams. International Business Environment MCQ Multiple Choice Questions. International Business Environment MCQ Multiple Choice Questions with answers are available here:-
51. Export control refers to restrictions on
A. Domestic firms from engaging in exports.
B. Items that can be exported from the country.
C. Foreign countries exporting to the country.
D. Domestic firms engaging in trade with the nation.
ANSWER: B
52. The political risk faced by a firm cannot be managed by
A. following ethical business practices.
B. partnership with local firms.
C. insurance.
D. none of the above.
ANSWER: D
53. The legal system in India is based on
A. Common law.
B. Civil law.
C. Theocratic law.
D. Hindu law.
ANSWER: D
54. Judgments are based on detailed codes, rather than precedents under
A. Common law.
B. Civil law.
C. Theocratic law.
D. English law.
ANSWER: B
55. Theocratic law refers to
A. Islamic law.
B. Military law.
C. Law based on religious precepts.
D. Tribal law.
ANSWER: C
56. The following statement relating to civil law is true
A. The role of judges to interpret the law.
B. The role of judges to apply the law.
C. It is based on established practised.
D. It is not applicable to criminal cases.
ANSWER: B
57. In international business cheaper alternatives to litigation is/ are
A. Conciliation.
B. Arbitration.
C. Negotiations.
D. Conciliation and arbitration.
ANSWER: D
58. A contract drafted under civil law differs from that drafted under common law in the following respect
A. It will be detailed.
B. It will be shorter and less specific.
C. It will provide less severe damages.
D. It will be in detail.
ANSWER: B
59. Ownership of intellectual property is recognized in law by granting
A. Licenses.
B. Patents.
C. Copyrights.
D. Patent, copyright or trademark as appropriate.
ANSWER: D
60. Product liability law relates to
A. Holding the manufacturer responsible for the damages caused to the genuine user of the product.
B. Liability of the customer for illegitimate use of the product.
C. Liability of the seller for selling spurious goods.
D. Holding the manufacturer for advertising false information.
ANSWER: A
