GUWAHATI UNIVERSITY (Board Question of International Business for B.COM 6th semester of 2023)
Board Question paper of International Business for B.COM 6th semester of 2023, SOLVED
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2023
COMMERCE
(Honours Elective)
Paper: COM-HE-6046
(International Business)
Full Marks: 80
Time: Three hours
The figures in the margin
indicate full marks for the questions.
Answer either in English or in Assamese.
1. Answer the
following questions:
(a) The total number of members of SAARC is
(i) 7
(ii) 8
(iii) 9
(iv) 10
ANSWER - (ii)
8
(b) Write the full form of TRIPS.
ANSWER - TRIPS
— Trade-Related Aspects of Intellectual Property Rights
(c) Import of goods and services for re- export to another
country is called entrepot trade.
(State True/False)
ANSWER - True
(d) A banker's acceptance fulfill
(i) For medium term
(ii) For short term
(iii) For long term
ANSWER - For
medium term
(e) State any one law regulating FDI inflows in India.
ANSWER -
Foreign Exchange Management Act (FEMA) governs FDI inflows in India.
(f) The UNCTAD was established in
(i) 1967
(ii) 1965
(iii) 1964
(iv) 1976
ANSWER - 1964
(g) What is the basic principle most favoured nation (MFN)?
ANSWER - the
basic principle of MFN Treat one trading partner equally as all others.
(h) quota is considered a tariff tool of international
trade. (Yes/No)
ANSWER - No
(i) India was one of the founder members of the WTO. (State True/False)
ANSWER - True
(j) The World Bank started operation in
(i) June, 1944
(ii) May, 1946
(iii) June, 1946
(iv) None of the above
ANSWER - June,
1946
2. Answer the
following questions in about 50 words:
(a) Write a short note on import duty.
ANSWER - Import
duty is a type of tax levied on the import and specific exports of a nation's
customs authorities. The value of goods will generally decide the amount of
import duty that will be imposed. Sometimes, import duty is also referred to as
customs duty, import tax, import tariff, or tariff
(b) Write two negative impact of globalisation.
ANSWER –
1. Job loss in domestic industries due to competition from
cheaper foreign labor.
2. Cultural homogenization and loss of traditional values.
(c) Mention two distinct stages of product life cycle theory
of international business.
ANSWER - the
introduction stage, the growth stage
(d) What is greenfield investment?
ANSWER - A
greenfield investment (GI) refers to a type of foreign direct investment (FDI)
where a company establishes operations in a foreign country.
(e) Give any examples of non-tariff measures of
international business.
ANSWER - sanctions,
and levies.
3. Answer any four questions from the following in about 150 words: 5×4=20
(a) What are the features of international business?
ANSWER - International
business involves various distinct features:
1. Cross-border
transactions: It encompasses activities like trade, investment, and
collaborations between entities from different countries.
2. Currency
exchange: Dealing with multiple currencies and managing exchange rate
risks is common.
3. Cultural
diversity: Adapting to diverse cultures, languages, and customs is
crucial for successful operations.
4. Legal complexities:
Complying with foreign laws, regulations, and trade policies requires
expertise.
5. Global
competition: Facing competition from international companies
necessitates innovation and efficiency.
(b) Write a short note on special economic zones (SEZs).
ANSWER - A special economic zone (SEZ) is an area
in which the business and trade laws are different from the rest of the
country. SEZs are located within a country's national borders. Their aims
include increased trade balance, employment, increased investment, job creation
and effective administration
(c) Write a note on ASEAN.
ANSWER - ASEAN
(Association of Southeast Asian Nations) is a regional organization comprising
ten member states in Southeast Asia. Established in 1967, it promotes political
and economic cooperation, regional stability, and cultural ties. ASEAN plays a
vital role in the Asia-Pacific region, fostering trade agreements and
maintaining diplomatic relations among its members.
(d) List out the items included in current account.
ANSWER - The current account of a country's balance
of payments typically includes the following five items:
1. Trade in Goods:
This covers the export and import of tangible goods, such as machinery,
electronics, vehicles, and agricultural products.
2. Trade in
Services: It includes the export and import of intangible services,
like tourism, financial services, consulting, and transportation.
3. Income:
This category accounts for income earned by residents from foreign investments
(e.g., dividends, interest) and income paid to foreign investors within the
country.
4. Transfers:
Transfers represent unilateral transfers of money between countries, including
remittances from expatriate workers and foreign aid.
5. Unilateral
Current Transfers: This category includes items like gifts, grants, and
donations between countries.
(e) What do you mean by 'Most Favoured Nation (MFN)’?
ANSWER - Most Favoured Nation (MFN) is a principle
in international trade where a country extends its best trade terms and lowest
tariffs to all its trading partners. It ensures non-discriminatory treatment,
meaning that no country receives more favorable trade conditions than others.
This promotes fairness and equal treatment in global trade, preventing
preferential treatment for specific countries. The MFN status is a cornerstone
of the World Trade Organization (WTO) rules, promoting openness and preventing
trade wars based on discriminatory trade practices.
(f) What are the objectives of World Bank?
The World Bank has several key objectives, including:
1.Poverty
Reduction: One of its primary goals is to reduce poverty in member
countries by providing financial and technical assistance for development
projects that promote economic growth and improve living standards.
2.Infrastructure
Development: The World Bank supports the development of infrastructure,
such as roads, bridges, energy, and water supply, to enhance economic
development and access to essential services.
3.Economic
Stability: It aims to promote macroeconomic stability and fiscal
responsibility in member countries through policy advice and financial
assistance.
4.Human Capital
Development: The World Bank invests in education, healthcare, and
social programs to enhance human capital, thereby contributing to long-term
economic growth.
5.Environmental
Sustainability: It promotes sustainable development practices and
environmental protection in projects to mitigate adverse impacts on ecosystems
and natural resources.
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