Tag: trade in agricultural produce - i

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Multiple choice social science trade in agricultural produce (part - a) trade in tamil nadu trade in agricultural produce - i human geography in tamil nadu

Why trade is called an engine of growth?

  1. Because it helps in the increase of foreign currency reserve

  2. It makes available all kinds of goods anywhere

  3. Trade increases technology transfer

  4. It improves the welfare of the workers

  5. All of these
Reveal answer Fill a bubble to check yourself
E Correct answer
Explanation

Trade is called an engine of growth because it helps in the increase of foreign currency reserves; it makes available all kinds of goods anywhere; trade increases technology transfer from one country to another; it improves the welfare of the workers; and it helps to increase the total production of a country.

Multiple choice social science trade in agricultural produce (part - a) trade in tamil nadu trade in agricultural produce - i human geography in tamil nadu

What is an internal trade?

  1. Trade carried out in the country

  2. Trade carried out with other country

  3. Trade carried out with many countries

  4. None of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Buying and selling of commodities and services within the country is known as internal trade. Whether the products are bought from local market, central market, and departmental store or from a door-to-door salesperson, all these are examples of internal trade. No custom duty or import duty is levied on this type of trade. Internal trade is a field of economy that includes both wholesale and retail trade.