Globalization Quiz

What does globalisation mean in the context of business?

• Globalisation means a business operating within its local area

• Globalisation means a business operating internationally or on a global scale

• Globalisation means a business buying goods from one overseas country

What is a tariff?

• A tax charged on a person’s income

• A tax charged on goods and services leaving a country

• A tax charged on goods and services coming into a country

What does international trade mean?

• The process of buying from or selling to any foreign country

• The process of buying from a different part of a country

• The process of a business in England selling to a customer in Scotland or Wales

What is a trading bloc?

• A business that operates in many countries around the world

• A group of countries that buy from and sell to each other, with no special agreements in place

• A group of countries that agree a special trading relationship

What is a disadvantage of using e-commerce for a growing business?

• Open 24/7

• Provides access to a very large potential customer base

• It can be expensive to set up

What does free trade mean?

• Trading with no tariffs

• Trading with large tariffs in place

• Trading with small tariffs in place

What is the difference between an import and an export?

• An import leaves a country and an export comes into a country

• An import comes into a country and an export leaves a country

• An import comes from the same area of a country and an export comes from a different part of the country

All of the following are advantages of Tariff except?

• More money for the government

• other countries to impose tariffs in response, affecting exporters

• Businesses in the home country have a better chance of competing