Explore topic-wise MCQs in International Business.

This section includes 4 Mcqs, each offering curated multiple-choice questions to sharpen your International Business knowledge and support exam preparation. Choose a topic below to get started.

1.

A _______________ focuses on eliminating internal tariffs with member countries levying a common

A. free trade area
B. common market
C. customs union
D. complete economic integration
Answer» C. customs union
Discussion
2.

_______________ occurs when trade shifts to countries in the group at the expense of trade with

A. trade creation
B. divestment
C. retrenchment
D. trade diversion
Answer» E.
Discussion
3.

_______________ occurs when production shifts to more efficient producers for reasons of

A. trade diversion
B. divestment
C. trade creation
D. retrenchment
Answer» D. retrenchment
Discussion
4.

The theory of comparative cost advantage is given by

A. david ricardo
B. adam smith
C. f w taussig
D. ohlin and heckscher
Answer» B. adam smith
Discussion