Tag: commerce

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Questions Related to commerce

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The main objective of ITO  was to promote and facilitate international trade among member nations.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The main objective of ITO  was to promote and facilitate international trade among member nations, ITO was an international trade institution which is now also know as the WTO World Trade Oregannization.

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The principal objective of the Foreign Exchange Regulation Act (FFRA) is _______.

  1. to regulate dealings in foreign exchange and securities

  2. to regulate foreign companies

  3. to regulate domestic trade

  4. to regulate employment of foreign nationals
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

FERRA (Foreign Exchange Regulation Act) primarily regulates foreign exchange transactions and securities dealings to conserve foreign currency. The abbreviation in the question has a typo (FFRA instead of FERA). It doesn't primarily regulate foreign companies, domestic trade, or employment of foreign nationals.

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In the initial stages of development, __________ imports will be high.

  1. capital and technological

  2. maintenance

  3. both (a) and (b)

  4. neither (a) nor (b)
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

In the early stages of industrial development, a country typically lacks the domestic capacity to produce machinery and advanced technology, necessitating high imports of capital goods.

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The world bank is a group of ______ international financial organizations.

  1. five

  2. three

  3. six

  4. four
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

 The World Bank Group consists of five member institutions: International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA), and International Centre for Settlement of Investment Disputes

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The term 'ISO' stands for ______________.

  1. International Organisation for Standardisation

  2. International Standardisation for Organisation

  3. Indian Standard Organisation

  4. International Standards for Organisations
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

ISO stands for the International Organization for Standardization. It is an independent, non-governmental international organization that develops standards to ensure the quality, safety, and efficiency of products and services.

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The world bank was set  up for the reconstruction of war-effected economies of Europe.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The World Bank was created at the 1944 Bretton Woods Conference along with the International Monetary Funds (IMF). The intention behind the founding of the World Bank was to provide temporary loans to low-income countries and reconstruction of war-effected economies of Europe.

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The world bank diverted their resources to _______  & ________ for the underdeveloped nations.

  1. infrastructure, finance

  2. industrial, agriculture

  3. import, export

  4. neither of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The world bank diverted their resources to industrial and agricultural help for the underdeveloped nations. Industrial and agricultural situations are the primary base to the development of an underdeveloped nation.