Tag: trading and economic organisations

Questions Related to trading and economic organisations

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.

Trade within the country is called ______ trade.

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

  1. Bilateral

  2. International

  3. Multilateral

  4. Internal

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Correct Option: D
Explanation:
  • Domestic trade is also known as internal trade or home trade. It is the exchange of domestic goods within the boundaries of a country. 

________ trade is the exchange of commodities between two countries.

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

  1. Bilateral

  2. Multilateral

  3. Wholesale

  4. Retail

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Correct Option: A
Explanation:
  • Bilateral trade is an exchange of commodities exclusively between two countries.

________ is the exchange of commodities within or between countries.

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

  1. Export-Import

  2. Business

  3. Trade

  4. Commerce

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Correct Option: C
Explanation:

Trade may be defined as "an exchange of goods and commodities either within the country or between countries." In simple terms, buying and selling of commodities is called trade and it may be local, regional, national and international.