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FAQs on DU B.COM INTERNATIONAL TRADE 483 SEM6 2015 PAPER - Humanities/Arts
| 1. What is international trade and why is it important for the global economy? |  |
| 2. How does international trade affect employment in different countries? | |
Ans. International trade can have both positive and negative effects on employment in different countries. On one hand, it can create job opportunities by increasing demand for exports and attracting foreign direct investment. On the other hand, it can lead to job displacement in industries that cannot compete with cheaper imports. However, overall studies have shown that the positive effects of international trade on employment outweigh the negative ones.
| 3. What are the main barriers to international trade and how do they affect global commerce? | |
Ans. The main barriers to international trade include tariffs, quotas, subsidies, and non-tariff barriers such as technical regulations and trade barriers. These barriers can limit market access, increase costs, and reduce competitiveness for businesses engaged in international trade. They also hinder economic growth, limit consumer choices, and contribute to economic inequality between countries.
| 4. How does international trade impact the environment? | |
Ans. International trade can have both positive and negative impacts on the environment. On one hand, it can promote the transfer of cleaner technologies and practices, leading to improved environmental standards. On the other hand, it can contribute to increased carbon emissions, deforestation, and overexploitation of natural resources due to higher production and transportation activities. It is crucial for countries to implement sustainable trade policies and practices to mitigate the negative environmental impacts of international trade.
| 5. What role do international trade agreements play in shaping global trade? | |
Ans. International trade agreements play a significant role in shaping global trade by establishing rules and regulations that govern trade between countries. They aim to reduce trade barriers, promote fair competition, protect intellectual property rights, and ensure compliance with labor and environmental standards. Examples of international trade agreements include the World Trade Organization (WTO) agreements, regional trade agreements like NAFTA and the European Union, and bilateral trade agreements between individual countries. These agreements help facilitate trade, promote economic integration, and foster international cooperation.
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