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UPSC Exam  >  UPSC Tests  >  Geography for UPSC CSE  >  Test: International Trade - UPSC MCQ

Test: International Trade - UPSC MCQ


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10 Questions MCQ Test Geography for UPSC CSE - Test: International Trade

Test: International Trade for UPSC 2024 is part of Geography for UPSC CSE preparation. The Test: International Trade questions and answers have been prepared according to the UPSC exam syllabus.The Test: International Trade MCQs are made for UPSC 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: International Trade below.
Solutions of Test: International Trade questions in English are available as part of our Geography for UPSC CSE for UPSC & Test: International Trade solutions in Hindi for Geography for UPSC CSE course. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free. Attempt Test: International Trade | 10 questions in 12 minutes | Mock test for UPSC preparation | Free important questions MCQ to study Geography for UPSC CSE for UPSC Exam | Download free PDF with solutions
Test: International Trade - Question 1
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What was the primary mode of trade in ancient times before long-distance trade developed?

Detailed Solution for Test: International Trade - Question 1
In ancient times, before long-distance trade developed, the primary mode of trade was the barter system, where goods were exchanged directly without the use of money. This system involved the direct exchange of one good for another, and it was practiced by primitive societies.
Test: International Trade - Question 2
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Which historical trade route connected Rome to China and played a significant role in long-distance trade?

Detailed Solution for Test: International Trade - Question 2
The Silk Route was a historical trade route that connected Rome to China, spanning approximately 6000 km. Traders used this route to transport various goods, including Chinese silk, Roman wool, metals, and more, facilitating long-distance trade between the two regions.
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Test: International Trade - Question 3
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Which principle forms the basis of international trade, emphasizing mutual benefit for trading partners?

Detailed Solution for Test: International Trade - Question 3
International trade is based on the principle of comparative advantage, which highlights that trade is mutually beneficial when each trading partner specializes in producing goods and services where they have a relative advantage, leading to increased efficiency and overall benefits.
Test: International Trade - Question 4
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What major development in trade occurred during the 15th century, involving the Portuguese, Dutch, Spaniards, and British?
Detailed Solution for Test: International Trade - Question 4
In the 15th century, the Slave Trade emerged, involving European powers like the Portuguese, Dutch, Spaniards, and British. They captured African natives and sold them to plantation owners in America, marking a significant and exploitative chapter in international trade history.
Test: International Trade - Question 5
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What is the term for the total value of goods and services traded in a given period of time?
Detailed Solution for Test: International Trade - Question 5
The term for the total value of goods and services traded in a given period of time is referred to as the "Volume of Trade." It measures the overall economic activity resulting from international trade.
Test: International Trade - Question 6
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Which type of trade involves an agreement between two countries to trade specific goods in which they specialize?
Detailed Solution for Test: International Trade - Question 6
Bilateral trade is a type of trade that occurs between two countries when they enter into an agreement to trade specific goods in which they are specialized. It is a direct trade relationship between two nations.
Test: International Trade - Question 7
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What organization was formed in 1995 to promote free and fair trade among different countries of the world, succeeding the General Agreement for Tariffs and Trade (GATT)?
Detailed Solution for Test: International Trade - Question 7
The World Trade Organization (WTO) was formed on January 1, 1995, to promote free and fair trade among different countries of the world. It succeeded the General Agreement for Tariffs and Trade (GATT) and is responsible for setting global trade rules and resolving trade disputes among its member nations.
Test: International Trade - Question 8
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What is the term for the practice of selling a commodity in two or more countries at a price that differs for reasons not related to costs?
Detailed Solution for Test: International Trade - Question 8
Dumping is the practice of selling a commodity in two or more countries at a price that differs for reasons not related to costs. It can disrupt fair competition and is a concern in international trade.
Test: International Trade - Question 9
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What type of trade involves many trading countries conducting trade simultaneously in goods in which they specialize?
Detailed Solution for Test: International Trade - Question 9
Multilateral trade involves many trading countries conducting trade simultaneously in goods in which they specialize. This type of trade allows for multiple nations to engage in trade relationships with each other.
Test: International Trade - Question 10
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Which major factor of international trade refers to the uneven distribution of resources in the world, including geology, mineral resources, and climate?
Detailed Solution for Test: International Trade - Question 10
Difference in National Resources is a major factor of international trade, referring to the uneven distribution of resources in the world. This includes variations in geology, mineral resources, and climate, which influence a country's economic activities and trade specialization.
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Important Questions for International Trade

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