Import Export Business Quiz

What is the industry worth in terms of importing and exporting?

• Trillions of dollars

• Billions of dollars

• Millions of dollars

• Thousands of dollars

What is the first step to starting an import/export business?

• Source your suppliers

• Price your product

• Identify your customers

• Cover the business basics

What is the purpose of an Export Management Company (EMC)?

• Handles marketing and packaging

• Hires dealers and invoices necessary parties

• Finds domestic sources for foreign markets

• Purchases goods from a manufacturer

What is the main focus of an Export Trading Company (ETC)?

• Finding foreign markets' needs

• Dealing with shipping and financing

• Handling advertising and marketing

• Purchasing goods from a manufacturer

What is the role of an Import/Export Merchant?

• Source suppliers for the business

• Assume risks and rewards of selling products overseas

• Identify target markets and end users

• Hire dealers and handle advertising

What is the first step in the business basics of starting an import/export business?

• Getting any necessary business licenses

• Registering a domain name

• Identifying trade partners

• Creating a business plan

What is the importance of market research in the import/export business?

• To conduct advertising campaigns

• To understand the rules and regulations of markets

• To find local government officials

• To hire dealers and suppliers

How can you find potential suppliers for your import/export business?

• By conducting market research

• By registering a domain name

• By hiring an Export Management Company

• Through Alibaba and Global Sources

What is the key factor in pricing your product for import/export?

• The volume of units sold

• The number of trade partners

• The location of the headquarters

• The size of the business plan

How can you identify your customers in the import/export business?

• By registering with the Department of Commerce

• By hiring an Export Trading Company

• By conducting market research

• By cold-calling potential clients