GLOBAL MARKETS EXAMINATION QUESTIONS AND CORRECT ANSWER WITH EXPLANATION GRADED A+ STUDY GUIDE SOUTHERN NEW HAMPSHIRE UNIVERSITY

GLOBAL MARKETS EXAMINATION QUESTIONS AND
CORRECT ANSWER WITH EXPLANATION GRADED A+
STUDY GUIDE SOUTHERN NEW HAMPSHIRE UNIVERSITY

1. Global markets refer to:

A. Local shops only
B. International buying and selling of goods and services
C. HR systems
D. Cooking systems
Answer: B
It involves trade across countries.



2. Globalization means:

A. Isolation of countries
B. Integration of world economies
C. HR globalization
D. Cooking globalization
Answer: B
Interconnected global economy.



3. International trade is:

A. Local exchange
B. Exchange of goods across borders
C. HR trade
D. Cooking trade
Answer: B
Cross-border commerce.



4. Export means:

,A. Buying from abroad
B. Selling goods abroad
C. HR export
D. Cooking export
Answer: B
Outward trade.



5. Import means:

A. Selling abroad
B. Buying from abroad
C. HR import
D. Cooking import
Answer: B
Inward trade.



6. Balance of trade is:

A. HR balance
B. Difference between exports and imports
C. Cooking balance
D. Marketing balance
Answer: B
Trade measurement.



7. Trade surplus occurs when:

A. Imports > exports
B. Exports > imports
C. HR surplus
D. Cooking surplus
Answer: B
Positive trade balance.



8. Trade deficit occurs when:

, A. Exports > imports
B. Imports > exports
C. HR deficit
D. Cooking deficit
Answer: B
Negative trade balance.



9. Global supply chain is:

A. Local production
B. International production network
C. HR chain
D. Cooking chain
Answer: B
Worldwide production system.



10. Comparative advantage means:

A. Absolute productivity
B. Lower opportunity cost in production
C. HR advantage
D. Cooking advantage
Answer: B
Trade specialization.



11. Absolute advantage is:

A. Lower cost
B. Ability to produce more efficiently
C. HR advantage
D. Cooking advantage
Answer: B
Higher productivity.



12. Tariffs are: