Tag: trade and factors affecting trade

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Questions Related to trade and factors affecting trade

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

International trade is influenced by ______ relationship among the countries.

  1. Social

  2. Political

  3. Economic

  4. Cultural
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation
  • The world's political relations has a big impact on international trade. 
  • International trade can be one of the most contentious of political issues, both domestically and between governments.
Multiple choice organisation of commerce and management trade trade and factors affecting trade trading and economic organisations trade and trade organisations

______ has primarily played an important role in developing trade.

  1. Communication

  2. Technology

  3. Transportation

  4. Media
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation
  • Transportation plays a major role in the economic uplift of a country as it promotes internal and external trade, economic use of natural resources, mobility of skilled labour-force, diversification of markets, provision of fuel, reduction in employment, increase in agricultural and industrial production etc. 
Multiple choice organisation of commerce and management trade trade and factors affecting trade trading and economic organisations trade and trade organisations

An example of a labour intensive good, which may be exported, is ________.

  1. Silk fabrics

  2. Watches

  3. Perfumes

  4. Tea
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Labor intensive refers to a process or industry that requires a large amount of labor to produce its goods or services. A prime example of a labor-intensive industry relates to tea production, especially those companies involved in the cultivating of tea leaves that must be picked with minimal damage to the plant as a whole.

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

Which two countries export machinery, automobiles, chemicals?
This question has multiple answers.

  1. USA

  2. Canada

  3. Latin America

  4. Europe
Reveal answer Fill a bubble to check yourself
A,B Correct answer
Explanation

The United States is the most important economic markets in the world. The largest exports of the United States are cars, refined petroleum, planes, helicopters, and spacecraft, and pharmaceuticals. The success of the United States economy can be attributed to factors such as a wealth of natural resources, excellent infrastructure, and a productive workforce. The country also has the designation of being the world's largest industrial sector. 


Second, comes Canada. It is one of the world's wealthiest nations. Motor Vehicles, aircraft, coal, and fertilizers are some of the top exports of Canada. After WWII, Canada’s economy developed rapidly fueled by growing service, manufacturing, and mining sectors. The discovery of oil reserves has propelled Canada to the fifth largest producer of oil in the world. The country produces high-quality products since it is a high-tech industrial society, which competes favorably in the international market.

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

An Asian country who is not an importer of manufactured goods _________.

  1. India

  2. China

  3. Indonesia

  4. Japan
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Japan is  an asian country which doesn't import manufactured goods as it has developed its' manufacturing industry. Almost everything is manufactured in Japan. Japan has become rich and developed because they invested a lot in human resources in the field of education and health to succeed. Their system of governance is stable and consistent over the years. 

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

Wood pulp is imported from ______.

  1. Canada

  2. Malaysia

  3. Middle East

  4. Sweden
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The forest industry as a whole plays an important part in the Swedish economy. It is also heavily export oriented and makes a significant contribution to Sweden’s trade balance. Sweden is the world’s second largest exporter of pulp, paper and sawn wood products combined.  Of the pulp and paper production, close to 90 percent is exported. As for pulp production, around a quarter of the total consumption of pulp within the europe are manufactured in Sweden.