Global Business and E-Commerce Assessment

What is e-commerce?

• Only selling products in physical stores

• Commercial transactions conducted electronically online

• Trading exclusively through phone calls

• Bartering goods between businesses

Which historical event significantly impacted early e-commerce development?

• The Industrial Revolution

• World War I

• The dot-com bubble

• The Great Depression

What is a balance of trade?

• The total amount of imports only

• The difference between exports and domestic sales

• The difference between a country's total exports and total imports

• The total amount of exports only

Which technological advancement has significantly contributed to e-commerce growth?

• Fax machines

• Artificial Intelligence and Machine Learning

• Typewriters

• Radio broadcasting

What is a tariff?

• A reward for exporting goods

• A discount on domestic products

• A tax placed on certain imported products

• A shipping cost reduction

How has social media influenced e-commerce?

• By eliminating the need for customer service

• By replacing traditional advertising completely

• By integrating shopping features directly on platforms

• By decreasing global connectivity

What is a major challenge facing e-commerce today?

• Limited product availability

• Cybersecurity concerns

• Lack of internet access

• Too few delivery options

What is a quota in international trade?

• A minimum sales requirement

• A set limit on imports or exports during a given period

• A marketing goal

• A customer satisfaction metric

How did the COVID-19 pandemic affect global trade?

• It had no impact on trade

• It only affected local businesses

• It disrupted global supply chains

• It increased in-person shopping

What is an exchange rate?

• The value of currency compared between countries

• The cost of shipping internationally

• The price of stocks

• The rate of economic growth