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Top 40 International Business MCQ with answers (Updated)

Part 3 – MCQ On International Trade

The Theory of Absolute Cost Advantage is given by ______

a. David Ricardo

b. Adam Smith

c. F W Taylor

d. Ohlin and Heckscher

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b. Adam Smith

The Theory of Relative Factor Endowments is given by ______.

a. David Ricardo

b. Adam Smith

c. F W Taussig

d. Ohlin and Hecksher

View Answer

d. Ohlin and Hecksher

The theory of comparative cost advantage is given by ______.

a. David Ricardo

b. Adam Smith

c. F W Taussig

d. Ohlin and Hecksher

View Answer

a. David Ricardo

Comparative Cost Trade Theory is given by ______

a. Adam Smith

b. David Ricardo

c. Gottfried Haberler

d. Heckscher Ohlin

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b. David Ricardo

________ 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

Check correct answer

b. Letter of Credit

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

Check correct answer

a. GATT, WTO

The WTO was established to implement the final act of Uruguay Round agreement of _______

a. MFA

b. GATT

c. TRIP’s

d. UNO

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b. GATT

WTO stands for ______

a. World technology association

b. World time organization

c. World trade organization

d. World tourism organization

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c. World trade organization

NAFTA stands for ______

a. North African trade association

b. North American free trade agreement

c. Northern Atlantic trade agreement

d. Northern association for trade

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b. North American free trade agreement

The main promoter of trade liberalization was ______.

a. GATT

b. NAFTA

c. CEPTA

d. CISA

Check correct answer

a. GATT

Select an example of Indian Multinational Company.

a. Hindusthan Unilever

b. Videocon

c. Cargill

d. Tesco

Check correct answer

b. Videocon

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