VU Midterm Past Papers
88 solved midterm past paper MCQs for MGT520 (International Business) at Virtual University, each with the correct answer marked. Use them to learn the VU question style and test your recall. An independent study tool — not affiliated with VU.
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Q1. Which one of the following is a country where Theocratic system of law does not prevail?
Q2. The designs and names, often officially registered, by which merchants or manufacturers designate and differentiate their products are known as;
Q3. Which of the following is NOT involved in creating a pressure by domestic rivalry?
Q4. Which of the following is the economic and strategic advantage that accrues to early entrants into an industry?
Q5. According to Forrester Research, in year 2000 the value of Web-based transactions reaches
Q6. When Uruguay Round was held
Q7. Identify a country in which civil law operates.
Q8. Which of the following country is famous for the export of coffee?
Q9. According to Forrester Research, the value of Web-based transactions hit $657 billion in which year?
Q10. Which of the following terms describes removal of government restrictions concerning the conduct of a business?
Q11. What does the acronym PRISM stand for?
Q12. In 1948, how many countries sign on GATT
Q13. GATS stand for;
Q14. In which year Foreign Corrupt Practices Act was applied in United States of America?
Q15. Who gave the postulate that since the United States was relatively abundant in capital compared to other nations, the United States would be an exporter of capital-intensive goods and an importer of labor-intensive goods?
Q16. Which of the following are considered successful in delivering the sustained economic performance in different countries?
Q17. Who advocated state ownership of the basic means of production, distribution, and exchange?
Q18. It is a way that firms can unload excess production into foreign markets is called:
Q19. Individualism is opposite to which one of the following?
Q20. When was the Hinduism originated?
Q21. What is the percentage of Hindu people in total world population?
Q22. In 1996 the U.S. Congress passed a resolution against Cuba, what was the name of that act?
Q23. In terms of social structure, individualism is observed in which of the following country?
Q24. According to Porter theory, which of the following is the true expression of the reserve word of his theory; “The diamond”?
Q25. What does MNE stand for?
Q26. MFA stands for;
Q27. __________basically is availability and accessibility of a service to customers.
Q28. Which one of the following is NOT a strategy or approach of a company for expansion and growth?
Q29. In which year the ‘treaty of Rome’ was formally signed?
Q30. Which of the following is forerunner of European Union?
Q31. TRIMS stand for;
Q32. What does FDI stand for?
Q33. Which one of the following truly explain the word ‘synergy’
Q34. Which of the following is known as the bedrock of a culture?
Q35. Monotheistic religion means,
Q36. “Theory of comparative advantage” advanced by which of the following English economist of 19th century?
Q37. Which of the following is true meaning of the term trade surpluses?
Q38. According to statistics of 1973, how many largest multinational companies out of the top 260 companies of the world were from USA?
Q39. Which one of the following is NOT a reason for the spread of democracy?
Q40. Between 1987 and 1999, the value of cross-border mergers and acquisitions into developed countries grew at what percent annually?
Q41. The total accumulated value of foreign-owned assets at a given time is known as:
Q42. MFN stands for;
Q43. The theory given by David Ricardo in 1817 is also known as;
Q44. Swedish strength is in:
Q45. In which year the name of European Community changed into European Union?
Q46. What is the effect of accountability of politicians on the overall cost of doing business in a foreign country?
Q47. Which of the following country is famous for the export of cocoa?
Q48. What is the expressed form of GSP?
Q49. Who was the founder of Buddhism?
Q50. Patents, copyrights, and trademarks are the examples of which one of the following option?
Q51. Increase in cost of doing business due to bribe is more visible in which of the following kind of state?
Q52. Which of the following discussed about the resurgence of Islam in many traditionally Muslim societies as a result of modernization in non-Western societies?
Q53. Which one of the following is the true definition of International Business?
Q54. Which one of the following is a country where Theocratic system of law prevails?
Q55. The transfer of ownership of state property into the hands of private individuals, frequently by the sale of state assets through an auction is known as;
Q56. Who argues that there is no “universal” civilization based on widespread acceptance of Western liberal democratic ideals?
Q57. State assets through an auction is known as;
Q58. Aristotle supported which of the following system?
Q59. Which one of the following is an international agreement to protect intellectual property?
Q60. Identify an economy in which the state owns all means of production.
Q61. In terms of social structure, collectivism is observed in which of the following country?
Q62. In how many independent states, Soviet Union divided after 1991 (democratic revolution)?
Q63. Identify a country in which common law operates.
Q64. A political system that stresses the primacy of collective goals over individual goals is known as:
Q65. The economic and legal systems of a country are shaped by its___________.
Q66. When tangible products (goods) manufactured in one country and sent out of that country to another one is known as
Q67. What does MNC stand for?
Q68. Which of the following acts prohibits U.S. companies from making illegal payments to foreign officials to obtain or retain business?
Q69. Which one of the following is the true synonym of ‘Stratum’?
Q70. Which one of the following country becomes wealthier in coming days?
Q71. Which of the following in NOT an officially sanctioned sacred book?
Q72. How do countries maintain their sovereignty?
Q73. Identify a political system in which government is elected by the people.
Q74. Which one of the following is NOT a reason for International Business Growth?
Q75. Identify a country in which common law does NOT operate.
Q76. Where was the Hinduism originated?
Q77. The Letter ‘M’ of McDonalds falls under which category?
Q78. Identify a term which explains the likelihood that a trading partner will opportunistically break a contract or expropriate property rights.
Q79. Which one of the following is considered to be an emerging economy?
Q80. When an enterprise goes for FDI in an industry that provides inputs for a firm’s domestic operations, or it may be FDI in an industry abroad that sells the outputs of a firm’s domestic operations. This refers to:
Q81. In 1980s, which part of the Europe was under communism
Q82. Which of the following is NOT a strategy for closing gap3?
Q83. Internet and other technological advancements lead to which one of the following expansion patterns?
Q84. The marketing imperfection approach to FDI is typically referred to which of the following theory?
Q85. E-business refers to which one of the following
Q86. The OECD is an intergovernmental organization of “wealthy” nations, in which country it is based?
Q87. Which one the following is the main reason for the growth in emerging economies and recession in developed countries?
Q88. What is the expressed form of OECD?