Test: International Trade


10 Questions MCQ Test NCERT Textbooks (Class 6 to Class 12) | Test: International Trade


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Attempt Test: International Trade | 10 questions in 10 minutes | Mock test for UPSC preparation | Free important questions MCQ to study NCERT Textbooks (Class 6 to Class 12) for UPSC Exam | Download free PDF with solutions
QUESTION: 1

International trade depends upon

Solution:

International trade depends upon differences in natural resources, marketable surplus and transport and communication.

QUESTION: 2

WTO is the successor of:

Solution:

It was formed on 1st Jan 1995.

QUESTION: 3

…… accounts for the highest share in the international trade.

Solution:

Manufacturing is very important in the econmy.

*Multiple options can be correct
QUESTION: 4

An important aspect of international trade depends on

Solution:

The correct option is Option A, B and C.

Three important aspects of international trade are: 

(i) Volume of trade: It means the actual tonnage of goods traded usually measured by the total volume and the value of goods exchanged. 

(ii) Composition of trade: It includes the type of goods and services which enter the world trade.

(iii) Direction of trade : The nature of international trade which has changed with the passage of time.

QUESTION: 5

Free trade means

Solution:

The act of opening up economies for trading is known as free trade or trade liberalisation. It allows goods and services from everywhere to compete with domestic products and services.

QUESTION: 6

Name the largest exporter of jute

Solution:

Bangladesh is 2nd largest producer after India and largest exporter of jute in the world.

QUESTION: 7

GATT means:

Solution:

It was formed in 1948.

QUESTION: 8

NAFTA was established in

Solution:

NAFTA was established in 1994. NAFTA stands for North American Free Trade Agreement.

QUESTION: 9

Sea Ports are

Solution:

The chief gateways of the world of international trade are the harbours and ports.

QUESTION: 10

SAARC stands for

Solution:

The South Asian Association for Regional Cooperation (SAARC) is an economic and political organisation of eight countries in Southern Asia. It was established on December 8, 1985 by Bangladesh, Bhutan, Nepal, Maldives, Pakistan, Sri Lanka and India.

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