Tag: trade and trade organisations

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Questions Related to trade and trade organisations

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

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

  1. International

  2. External

  3. Multilateral

  4. Internal
Reveal answer Fill a bubble to check yourself
D Correct answer
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.
Multiple choice organisation of commerce and management trade trade and factors affecting trade trading and economic organisations trade and trade organisations

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

  1. Local trade

  2. State level trade

  3. International trade

  4. Internal trade
Reveal answer Fill a bubble to check yourself
C Correct answer
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.
Multiple choice organisation of commerce and management trade trade and factors affecting trade trading and economic organisations trade and trade organisations

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

  1. Zojilla pass

  2. Bomdila pass

  3. Khyber pass

  4. Nat hula pass
Reveal answer Fill a bubble to check yourself
C Correct answer
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. 

 

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

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

  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
Reveal answer Fill a bubble to check yourself
D Correct answer
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.

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

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

  1. Internal trade

  2. External trade

  3. International trade

  4. Local trade
Reveal answer Fill a bubble to check yourself
C Correct answer
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)

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

What locational advantage does India possess for International trade?

  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
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

India's central position at the head of the Indian Ocean provides it with a strategic advantage for maritime trade, connecting the East and West via the Suez Canal route.

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

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

  1. International trade

  2. Internal trade

  3. Free trade

  4. Territorial trade
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Trade occurring within the borders of a single country, such as between two cities in India, is classified as internal or domestic trade.