1) What does globalisation mean within the context of business? a) Globalisation means a business operating within its local area b) Globalisation means business operating on an international or on a global scale c) Globalisation means businesses buying goods from one overseas company d) Globalisation is when businesses try and reduce global warming 2) What is a tariff? a) A tax charged on a person's income b) A tax charged on goods entering a country c) A tax charged on goods and services leaving a country d) The price of a good 3) What does international trade mean? a) The process of buying from or selling to any foreign country b) The process of buying from a different part of a country c) The process of a business in England buying from a company in Scotland or Wales d) Paying tariffs to foreign governments 4) What is the abbreviation for a Multi National Company? a) MNC b) Ltd c) PLC d) LLP 5) What is a trading bloc? a) A business that operates in many countries around the world b) A group of countries that buy from and sell to each other, with no special agreements in place c) A group of countries that agree a special trading relationship d) A group of countries who block trade between each other 6) What do protectionist measures involve? a) Promoting trading with foreign businesses through the use of tariffs on local products b) Promoting trading with local businesses through the use of tariffs on imports c) Requiring businesses to pay additional taxes d) Using legislation to protect consumers 7) What is a disadvantage of using eCommerce for a growing business? a) Open 24-7 b) Provides access to a potentially very large customer base c) Less cost than having stores d) It can be expensive to set up 8) What does free trade mean? a) Trading with no tariffs b) Trading with large tariffs in place c) Trading with small tariffs in place d) Trading with no prices 9) What is the difference between an import and an export? a) An import leaves and country and an export enters a country b) An import comes from the same area in a country and an export comes from a different area of a country c) An import is more expensive than an export d) An import comes into a country and an export leaves a country 10) What does SPICED stand for? a) Strong Pound Makes Income Cheaper but Exports Dearer b) Strong Pound Interest Cheaper Exports Dearer c) Strong Pound Imports Cheap Exports Dear d) Strong Pound Imports Cheaper Exchange Rates Dearer

Topic 2: External influences

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