1.
Comparative advantage explains why countries specialize in
certain goods and services. 2 points True False
2. Franchising involves granting a company the right to produce
goods under their brand. 2 points True False
3. Globalization has increased integration of world economies,
cultures, and populations. 2 points True False
4. Supply chain disruptions are often caused by consistent political
stability. 2 points True False
5. Lower-middle-income countries primarily rely on agriculture 2
points True False
6. GNI per capita is a key criterion for classifying countries
economically. 2 points True False
7. High-income countries exhibit high levels of poverty. 2 points
True False
8. Centrally planned socialism allows private resource ownership. 2
points True False
9. Market capitalism promotes innovation and competition. 2 points
True False
10. Entrepreneurship drives economic development through job
creation. 2 points True False
11. Intrapreneurship requires independent resource sourcing by
employees. 2 points True False
12. Ethical practices in business build trust and credibility with
stakeholders. 2 points True False
13. Environmental sustainability is unrelated to international trade
ethics. 2 points True False
14. Accountability is a principle of business ethics. 2 points True
False
15. Intellectual property rights often cause trade disputes. 2 points
True False
16. What is foreign direct investment (FDI)? 1 point Licensing a
product to another company Establishing as subsidiary in a foreign
market Selling goods in a domestic market
17. Which of the following is an export product of the Philippines?
1 point Processes meat Coconut oil Coal
18. What is a significant challenge of globalization? 1 point Broader
societal development Job loss due to offshoring Access to foreign
resources
19. Which of the following best defines market capitalism? 1 point
Government ownership of resources Resource allocation guided by
supply and demand Full government control over production
20. What is the primary focus of centrally planned socialism? 1
point Individual profit Social welfare and equality Technological
advancement
21. How does intrapreneurship differ from entrepreneurship? 1
point Intrapreneurship occurs within an existing company
Entrepreneurs work under strict company goals Intrapreneurs own
their business ventures
22. Which ethical principle involves being transparent in dealings?
1 point Fairness Integrity Respect
23. What does urbanization in lower-middle-income countries lead
to? 1 point Decrease in economic activities Increased
industrialization Higher life expectancy
24. Which of the following is a consequence of globalization? 1
point Decline in global trade Environmental pollution Reduced
cultural sensitivity
25. Which country is considered high-income based on GNI per
capita? 1 point Nigeria Afghanistan Japan
26. How does entrepreneurship contribute to global economic
development? 1 point It reduces market demand It creates job
opportunities It focuses solely on innovation
27. Which economic system blends socialism with market
capitalism? 1 point Centrally planned socialism Market capitalism
Market socialism 29. What is a benefit of adhering to business
ethics? 1 point Reducing stakeholder trust Avoiding compliance
with laws Enhancing reputation
30. How do trade sanctions impact international business? 1 point
They encourage open trade relations They restrict business
activities for political reasons They eliminate trade regulations
19. A country with GNI per capita between $4,466 and $13,845 is
classified as: 1 point High-income Upper-middle-income Lower-
middle-income