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

Which one of the following continents exports agricultural products?

  1. Asia

  2. Australia

  3. North America

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

The main agricultural exports of Australia include wheat, beef,meat, and wool.Australia's export account for over 90 percent of wool and cotton production, nearly 80 percent of wheat, over 50 percent of barley and rice, over 40 percent of beef and grain legumes, over 30 percent of dairy products, and nearly 20 percent of fruit production.

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

Which region covers the Caribbean islands?

  1. USA

  2. Canada

  3. Latin America

  4. Australia
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The Caribbean is a region of the Americas that consists of the Caribbean Sea, its islands and the surrounding coasts. The region is southeast of the Gulf of Mexico and the North American mainland, east of Central America, and north of South America

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

Latin America exports ______.

  1. Foodstuff

  2. Machinery

  3. Automobiles

  4. Minerals
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The main exports from Latin America are agricultural products .

It has long been associated with the production and export of a diverse range of agricultural commodities, whether it is coffee from Brazil and Colombia, beef from Argentina, or bananas from Ecuador

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

Which region mainly imports industrial raw materials?

  1. North America

  2. Africa

  3. Europe

  4. Australia
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation
  • Trade in raw materials is extremely important for the sustainability of European countries and their economies.
  •  Construction, chemicals, the automotive and aerospace industries, machinery and equipment are some of the sectors that are most dependent on access to raw materials.
  • The EU has an ongoing trade deficit in raw materials  (SITC sections 2 and 4, including non-manufactured goods such as oilseeds, cork, wood, pulp, textile fibres, ores and other minerals as well as animal and vegetable oils) since 2005.
Multiple choice organisation of commerce and management trade trade and factors affecting trade trading and economic organisations trade and trade organisations
Choose the correct word.
Primitive method of trade was known as ___________ system.

  1. Value

  2. Barter

  3. Traditional

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

Barter is a system where people engage in exchange of goods and services without the use of money as payment. Instead in return of the item purchased, one has to provide some service or give some goods in return to the person from which the good is purchased.

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 documents are required for international tourism?

  1. Passport

  2. Visa

  3. Travel insurance

  4. All of above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

To go to a foreign country, one needs a passport, visa, travel insurance and other documents. We should have currency of the country where we are going. For this we need to exchange our currency value with that currency.