Tag: exports and imports

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Questions Related to exports and imports

Multiple choice business organisation import and export procedure types of foreign trade exports and imports nature and scope of foreign trade

Forwarding agents acting on behalf of exporters and Clearing agents act on behalf of the importer in completing the formalities of international trade.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Forwarding agents (freight forwarders) typically assist exporters by managing logistics, while clearing agents (customs brokers) specialize in the documentation and clearance processes required by importers.

Multiple choice business organisation import and export procedure types of foreign trade exports and imports nature and scope of foreign trade

Middlemen assisting in international trade include(s) which of the following?

  1. Export agents

  2. Forwarding agent

  3. Import agent

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

Middlemen in international trade include various entities that facilitate the movement and sale of goods, such as export agents, import agents, and forwarding agents.

Multiple choice business organisation import and export procedure types of foreign trade exports and imports nature and scope of foreign trade

In ________, a firm itself approaches the overseas buyers/ suppliers and looks after all the formalities related to exporting/importing activities.

  1. direct exporting/importing

  2. indirect exporting/importing

  3. contract manufacturing

  4. none of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A situation in which a company sells its products directly to customers in another country without using another person or organisation to make arrangements for them, or a product that is sold in this way: The direct export of goods involves certain procedures.

Multiple choice business organisation import and export procedure types of foreign trade exports and imports nature and scope of foreign trade

______ is used to establish the origin of the product and is issued by the Chamber of Commerce of the Exporters country.

  1. Certificate of Origin

  2. Bill of exchange

  3. Bill of Lading

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


Description

A certificate of origin is a document used in international trade. In a printed form or as an electronic document, it is completed by the exporter and certified by a recognized issuing body, attesting that the goods in a particular export shipment have been produced, manufactured or processed in a particular country.

Multiple choice business organisation import and export procedure types of foreign trade exports and imports nature and scope of foreign trade

Identify the limitation(s) of importing/ exporting form of international business.

  1. Exporting/importing involves additional packaging, transportation and insurance costs.

  2. Exporting is not a feasible option when import restrictions exist in a foreign country.

  3. Export firms basically operate from their home country.

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation
 Disadvantages 
  • Economic dependence: Too much dependence on imports may undermine the economy of a country.
  • Restricted growth of home industries: Foreign trade may discourage the growth of domestic industries.
  • Misuse of natural resources.
  • Political exploitation.
  • Import of harmful goods.
  • Rivalry among nations.
  • Invasion of culture.
Multiple choice business organisation import and export procedure types of foreign trade exports and imports nature and scope of foreign trade

Exposure to foreign investment risks is nil or much lower in foreign trade. This is because of which of the following advantages of exporting/importing?

  1. It is less complex an activity.

  2. Exporting/importing does not require much of investment in foreign countries.

  3. Firms do not directly deal with overseas customers.

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

Foreign investments add diversity but there are risks. Investing in foreign countries is a relatively new option for individual investors. Luckily, the advent of internationally focused mutual funds and exchange-traded funds (ETFs) has made it easier.

Multiple choice business organisation import and export procedure types of foreign trade exports and imports nature and scope of foreign trade

Under the chairmanship of V.L.D'Souza, the Export Promotion Committee was setup in the year ________________.

  1. 1957

  2. 1962

  3. 1964

  4. 1966
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The goverment of India appointed another committee in 1957 under the chairmanship of V.L. D'souza to make a comprenshive study of all aspects of trade promotion.

Multiple choice business organisation import and export procedure types of foreign trade exports and imports nature and scope of foreign trade

The EXIM Bank provides:

  1. Funded assistance to promote Indian exports

  2. Non-funded assistance to promote Indian exports

  3. Both (A) and (B)

  4. Soft loan facilities
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

EXIM bank (Exports Imports  bank of  India) provides as well as non financial assistance .Financial assistance is by provising them funds and advances for exports promotion, no financial assistance is by providing them information regarding the trends of the international market.