English is not the language of international business.

• A) False
• B) True
• C)
• D)

There are three Stages of the International Product Life Cycle theory.

• A) True
• B) False
• C)
• D)

___________ supports the combination of "Innovation and Entrepreneurship" for the success of economic growth of the country.

• A) Market Economy
• B) Planned Economy
• C) Controlled Economy
• D) Mixed Economy

Technological change offers risks, opportunities and threats to businesses.

• A) False
• B) True
• C)
• D)

The transfer of ownership of state property into the hands of private individuals, frequently by the sale of state assets through an auction is known as;

• A) Formulization
• B) Nationalization
• C) Industrialization
• D) Privatization

A situation where the value of exports are greater than the value of imports are called trade deficit.

• A) True
• B) False
• C)
• D)

Ethnocentrism is the belief in one's own culture's superiority.

• A) False
• B) True
• C)
• D)

Which of the following is NOT a reason that business becomes difficult in undeveloped countries?

• A) Lack of infrastructure
• B) Lack of facilities for supporting activities
• C) Lack of supporting businesses
• D) Lack of natural resources

Who initially proposed the product life-cycle theory in the mid-1960s?

• A) Raymond Vernon
• B) Heckschler-Ohlin
• C) David Hume
• D) Wassily Leontief

Which of the following defines as unit cost reduction associated with a large scale of output?

• A) Price scale
• B) Unit of scale
• C) Market scale
• D) Economies of scale

Hand gestures, facial expressions, physical greetings, eye contact are called body language.

• A) False
• B) True
• C)
• D)

A communication problem comes under cultural shock.

• A) True
• B) False
• C)
• D)

Exponential growth in Telecom and banking sector in Pakistan recently is the result of …

• A) Nationalization
• B) Standardization
• C) De-regulation
• D) Privatization

Identify a country in which common law does NOT operate.

• A) Australia
• B) France
• C) United States
• D) United Kingdom

Individualism culture focuses on group goals.

• A) True
• B) False
• C)
• D)

Which of the following refer to a group of people who share a common set of values and norms?

• A) Society
• B) Culture
• C) Customs
• D) Civilization

Which of the following country is least attractive for international business firms due to strong administrative sanctions and huge private action?

• A) Pakistan
• B) Singapore
• C) Japan
• D) India

Most body language is subtle and takes time to interpret.

• A) True
• B) False
• C)
• D)

In ______________ state owns all means of production.

• A) Planned Economy
• B) Market Economy
• C) Mixed Economy
• D) Controlled Economy

International trade is divided into two categories: traditional, country-based trade and modern, firm-based trade.

• A) True
• B) False
• C)
• D)