Tag: trade

Questions Related to trade

Which one of the following terms is used to describe trade between two or more countries?

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

  1. Internal trade

  2. External trade

  3. International trade

  4. Local trade

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Correct Option: C
Explanation:

International trade is the exchange of capital, goods, and services across international borders or territories. In most countries, such trade represents a significant share of gross domestic product (GDP)

Trade between two or more countries is termed as ________.

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

  1. External trade

  2. International trade

  3. Internal trade

  4. Trans-nation trade

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Correct Option: B
Explanation:

 It may take place through sea, air or land routes. 

The length of India's coast line is about __________.

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

  1. 7,500 km

  2. 5,900 km

  3. 7,000 km

  4. 6,100 km

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Correct Option: A
Explanation:

India is a peninsula covered by water on three sides. It has a long coastline of 7,517 km.

What locational advantage does India possess for International trade?

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

  1. Central location in the Eastern hemisphere

  2. Location in the middle of the developing countries

  3. Location at the sourthern end of Asia

  4. Location on the east-west oceanic route through the Suez Canal

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Correct Option: D

If the commodities manufactured in Surat and sold in Mumbai or Delhi, then it is ________.

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

  1. International trade

  2. Internal trade

  3. Free trade

  4. Territorial trade

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Correct Option: B

Which factors result in the exchange of goods?

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

  1. Geology

  2. Vegetation

  3. Soil

  4. All the above

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Correct Option: D

These are primary products:
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. Cereals

  2. Cotton

  3. Computers

  4. Fruits

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Correct Option: A,B,D
Explanation:

Primary products are the products which are used in raw form ,which are not manufactured. Hence cereal, cotton and fruits are in raw form i.e they are produced by earth.

Trade occurs because of ______ of goods in one place.

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

  1. Excess

  2. Surplus

  3. Large amount

  4. Less amount

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Correct Option: B
Explanation:

Trade occurs because of surplus of goods in one place. A trade surplus is an economic measure of a positive balance of trade, where a country's exports exceed its imports. 

Which regions supply softwood and dairy products?

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

  1. Temperate

  2. Tropical

  3. Boreal

  4. Tundra

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Correct Option: A

______ trade is between a number of countries.

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

  1. Retail

  2. Bilateral

  3. Wholesale

  4. Multilateral

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Correct Option: D
Explanation:
Multilateral trade agreements are commerce treaties between three or more nations.