Tag: trading and economic organisations

Questions Related to trading and economic organisations

Which region mainly imports industrial raw materials?

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. Europe

  4. Australia

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Correct Option: C
Explanation:
  • Trade in raw materials is extremely important for the sustainability of European countries and their economies.
  •  Construction, chemicals, the automotive and aerospace industries, machinery and equipment are some of the sectors that are most dependent on access to raw materials.
  • The EU has an ongoing trade deficit in raw materials  (SITC sections 2 and 4, including non-manufactured goods such as oilseeds, cork, wood, pulp, textile fibres, ores and other minerals as well as animal and vegetable oils) since 2005.
Choose the correct word.
Primitive method of trade was known as ___________ system.
organisation of commerce and management trade trade and factors affecting trade trading and economic organisations trade and trade organisations

  1. Value

  2. Barter

  3. Traditional

  4. Money

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Correct Option: B
Explanation:

Barter is a system where people engage in exchange of goods and services without the use of money as payment. Instead in return of the item purchased, one has to provide some service or give some goods in return to the person from which the good is purchased.

Which of the following documents are required for international tourism?

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

  1. Passport

  2. Visa

  3. Travel insurance

  4. All of above

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Correct Option: D
Explanation:

To go to a foreign country, one needs a passport, visa, travel insurance and other documents. We should have currency of the country where we are going. For this we need to exchange our currency value with that currency.

Which one of the following has been recently added to the list of exports items in India?

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

  1. Rubber

  2. Sugar

  3. Coffee

  4. Rice

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Correct Option: A