OCR A-Level Business global business overview quiz quiz

The deliberate closing of national borders to all forms of cross-border trade and investment between countries

A particular type of marketing strategy used by firms when selling their products to overseas customers abroad, focused mainly on advertising and the choice of brand name

The increasing integration and interdependence of national economies through trade, investment, technology and movement of people and capital

Exactly the same thing as protectionism, the use of tariffs and quotas to shield home industries from rivals

Exports become dearer abroad while imported inputs become cheaper

No effect at all on either the price of exports or of imports

Both exports and imported inputs become cheaper at the same time

Exports cheaper abroad and imported inputs more expensive

A tax on imported goods that raises their price

A physical limit placed on the total quantity of goods imported

A government payment or subsidy made to domestic producers

An agreement between countries to trade with each other freely

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Higher tariffs imposed on its exports to other member countries

Much less competition from rival firms in other member countries

Tariff-free access to a large market of member countries

Complete freedom from all regulation across the member countries

Simply exporting finished goods from the home country to customers overseas abroad

Buying and holding foreign currency in order to speculate on exchange rate movements

A special tax levied by governments on the profits earned by large multinational firms

Investment by a firm in productive assets in another country, giving lasting control

Offshoring moves the firm's own operations abroad; outsourcing hands an activity to another firm

They are simply the same thing described using two interchangeable terms for one practice

Outsourcing always happens strictly within the home country and never involves any external firm at all

Offshoring just means selling a firm's finished products abroad to customers in foreign markets

To avoid paying any tax at all in the overseas market it is entering

To gain a local partner's market knowledge and share the cost and risk of entry

Because it is always guaranteed to be the cheapest possible entry method

To keep complete and total control of the entire overseas operation by itself alone

Using a completely different and unrelated brand name in each separate country

Selling products only ever in the firm's own domestic home market and nowhere else

Keeping a consistent global brand while adapting specific elements to local markets

Fully standardising every single element of the product with no local change at all

Large populations never buy any products from foreign firms at all

Large markets always have far too much competition for it to be worth entering

The size of a population has absolutely no link to demand whatsoever

The product is only viable if enough people have the income to afford it