Tag: trade

Questions Related to trade

______ has primarily played an important role in developing trade.

organisation of commerce and management trade trade and factors affecting trade trading and economic organisations trade and trade organisations

  1. Communication

  2. Technology

  3. Transportation

  4. Media

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Correct Option: C
Explanation:
  • Transportation plays a major role in the economic uplift of a country as it promotes internal and external trade, economic use of natural resources, mobility of skilled labour-force, diversification of markets, provision of fuel, reduction in employment, increase in agricultural and industrial production etc. 

_______ populated countries have less international trade.

organisation of commerce and management trade trade and factors affecting trade trading and economic organisations trade and trade organisations

  1. Sparsely

  2. Densely

  3. Largely

  4. Moderately

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Correct Option: B
Explanation:

Densely populated countries have less international trade because domestic consumption is high and there is not much surplus left.

An example of a labour intensive good, which may be exported, is ________.

organisation of commerce and management trade trade and factors affecting trade trading and economic organisations trade and trade organisations

  1. Silk fabrics

  2. Watches

  3. Perfumes

  4. Tea

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Correct Option: D
Explanation:

Labor intensive refers to a process or industry that requires a large amount of labor to produce its goods or services. A prime example of a labor-intensive industry relates to tea production, especially those companies involved in the cultivating of tea leaves that must be picked with minimal damage to the plant as a whole.

Which two countries export machinery, automobiles, chemicals?
This question has multiple answers.

organisation of commerce and management trade trade and factors affecting trade trading and economic organisations trade and trade organisations

  1. USA

  2. Canada

  3. Latin America

  4. Europe

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Correct Option: A,B
Explanation:

The United States is the most important economic markets in the world. The largest exports of the United States are cars, refined petroleum, planes, helicopters, and spacecraft, and pharmaceuticals. The success of the United States economy can be attributed to factors such as a wealth of natural resources, excellent infrastructure, and a productive workforce. The country also has the designation of being the world's largest industrial sector. 


Second, comes Canada. It is one of the world's wealthiest nations. Motor Vehicles, aircraft, coal, and fertilizers are some of the top exports of Canada. After WWII, Canada’s economy developed rapidly fueled by growing service, manufacturing, and mining sectors. The discovery of oil reserves has propelled Canada to the fifth largest producer of oil in the world. The country produces high-quality products since it is a high-tech industrial society, which competes favorably in the international market.

Which region is an importer of food grains and petroleum?

organisation of commerce and management trade trade and factors affecting trade trading and economic organisations trade and trade organisations

  1. Asia

  2. North America

  3. Australia

  4. Europe

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Correct Option: C

Which region exports finished and semi-finished products?

organisation of commerce and management trade trade and factors affecting trade trading and economic organisations trade and trade organisations

  1. North America

  2. Africa

  3. Asia

  4. Europe

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Correct Option: D

An Asian country who is not an importer of manufactured goods _________.

organisation of commerce and management trade trade and factors affecting trade trading and economic organisations trade and trade organisations

  1. India

  2. China

  3. Indonesia

  4. Japan

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Correct Option: D
Explanation:

Japan is  an asian country which doesn't import manufactured goods as it has developed its' manufacturing industry. Almost everything is manufactured in Japan. Japan has become rich and developed because they invested a lot in human resources in the field of education and health to succeed. Their system of governance is stable and consistent over the years. 

Wood pulp is imported from ______.

organisation of commerce and management trade trade and factors affecting trade trading and economic organisations trade and trade organisations

  1. Canada

  2. Malaysia

  3. Middle East

  4. Sweden

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Correct Option: D
Explanation:

The forest industry as a whole plays an important part in the Swedish economy. It is also heavily export oriented and makes a significant contribution to Sweden’s trade balance. Sweden is the world’s second largest exporter of pulp, paper and sawn wood products combined.  Of the pulp and paper production, close to 90 percent is exported. As for pulp production, around a quarter of the total consumption of pulp within the europe are manufactured in Sweden. 

 

Which countries are rich in raw materials and minerals?

organisation of commerce and management trade trade and factors affecting trade trading and economic organisations trade and trade organisations

  1. African

  2. Asian

  3. European

  4. American

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Correct Option: B

Which region has the largest volume of trade in the world?

organisation of commerce and management trade trade and factors affecting trade trading and economic organisations trade and trade organisations

  1. Usa

  2. Asia

  3. Europe

  4. Australia

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Correct Option: C