Tag: trade and trade organisations

Questions Related to trade and trade organisations

Trade carried on within the domestic territory of a country is known as______ trade.

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

  1. International

  2. External

  3. Multilateral

  4. Internal

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Correct Option: D
Explanation:
When buying and selling of goods and services takes place within the geographical limits of a country it is known as internal trade. The main features of internal trade are:
1) the buying and selling of goods and services takes place within a country.
2) the payment are made and received in the home country only.
3) there are no or very few formalities to be completed by the traders.

Which of the following is considered the economic barometer for a country?

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

  1. Local trade

  2. State level trade

  3. International trade

  4. Internal trade

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Correct Option: C
Explanation:
Advancement of international trade of a country is an index to its economic prosperity. It is, therefore, considered the economic barometer for a country.

Out of the following, India earns the maximum foreign exchange from the export of __________.

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

  1. leather

  2. Rubber

  3. Iron

  4. Electronic goods

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Correct Option: C
Explanation:

India earns the maximum foreign exchange from the export of Iron.

The pass of Himalayas most commonly used for trade in ancient times was _____.

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

  1. Zojilla pass

  2. Bomdila pass

  3. Khyber pass

  4. Nat hula pass

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Correct Option: C
Explanation:

Throughout history, it has been an important trade route between Central Asia and the Indian subcontinent and a vital strategic military choke point for various states that came to control it. 

 

The exchange of ideas and commodities between India and the rest of the world since ancient times is due to the fact that _______.

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

  1. India has been a world leader since ancient times

  2. India enslaved other countries and forced them to adopt its ideas

  3. Other countries were afraid of India and hence adopted its ideas

  4. The passes between the mountains and the sea routes enabled trade and the spread of Indian ideas in the rest of the world

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Correct Option: D
Explanation:

The exchange of ideas and commodities between India and the rest of the world since ancient times is due to the fact that passes between the mountains and the sea routes enabled trade and the spread of Indian ideas in the rest of the world.

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