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Read the source given below and answer the questions that follows:The exchange of goods among people, states and countries is referred to as trade. The market is the place where such exchanges take place. Trade between two countries is called international trade. It may take place through sea, air or land routes. While local trade is carried in cities, towns and villages, state level trade is carried between two or more states. Advancement of international trade of a country is an index to its economic prosperity. It is, therefore, considered the economic barometer for a country. As the resources are space bound, no country can survive without international trade. Export and import are the components of trade. The balance of trade of a country is the difference between its export and import. When the value of exports exceeds the value of imports, it is called a favourable balance of trade. On the contrary, if the value of imports exceeds the value of exports, it is termed as an unfavourable balance of trade. India has trade relations with all the major trading blocks and all geographical regions of the world. Among the world, the commodities exported from India to other countries include gems and jewellery, chemicals and related products, agriculture and allied products, etc. The commodities imported to India include petroleum crude and products, gems and jewellery, chemicals and related products, base metals, electronic items, machinery, agriculture and allied products. India has emerged as a software giant at the international level and it is earning large foreign exchange through the export of information technology.Answer the following MCQs by choosing the most appropriate option.Q. What is trade between two countries called and how does it takes place?a)Local Tradeb)National Tradec)International Traded)None of the AboveCorrect answer is option 'C'. Can you explain this answer? for Class 10 2024 is part of Class 10 preparation. The Question and answers have been prepared according to the Class 10 exam syllabus. Information about Read the source given below and answer the questions that follows:The exchange of goods among people, states and countries is referred to as trade. The market is the place where such exchanges take place. Trade between two countries is called international trade. It may take place through sea, air or land routes. While local trade is carried in cities, towns and villages, state level trade is carried between two or more states. Advancement of international trade of a country is an index to its economic prosperity. It is, therefore, considered the economic barometer for a country. As the resources are space bound, no country can survive without international trade. Export and import are the components of trade. The balance of trade of a country is the difference between its export and import. When the value of exports exceeds the value of imports, it is called a favourable balance of trade. On the contrary, if the value of imports exceeds the value of exports, it is termed as an unfavourable balance of trade. India has trade relations with all the major trading blocks and all geographical regions of the world. Among the world, the commodities exported from India to other countries include gems and jewellery, chemicals and related products, agriculture and allied products, etc. The commodities imported to India include petroleum crude and products, gems and jewellery, chemicals and related products, base metals, electronic items, machinery, agriculture and allied products. India has emerged as a software giant at the international level and it is earning large foreign exchange through the export of information technology.Answer the following MCQs by choosing the most appropriate option.Q. What is trade between two countries called and how does it takes place?a)Local Tradeb)National Tradec)International Traded)None of the AboveCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Class 10 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Read the source given below and answer the questions that follows:The exchange of goods among people, states and countries is referred to as trade. The market is the place where such exchanges take place. Trade between two countries is called international trade. It may take place through sea, air or land routes. While local trade is carried in cities, towns and villages, state level trade is carried between two or more states. Advancement of international trade of a country is an index to its economic prosperity. It is, therefore, considered the economic barometer for a country. As the resources are space bound, no country can survive without international trade. Export and import are the components of trade. The balance of trade of a country is the difference between its export and import. When the value of exports exceeds the value of imports, it is called a favourable balance of trade. On the contrary, if the value of imports exceeds the value of exports, it is termed as an unfavourable balance of trade. India has trade relations with all the major trading blocks and all geographical regions of the world. Among the world, the commodities exported from India to other countries include gems and jewellery, chemicals and related products, agriculture and allied products, etc. The commodities imported to India include petroleum crude and products, gems and jewellery, chemicals and related products, base metals, electronic items, machinery, agriculture and allied products. India has emerged as a software giant at the international level and it is earning large foreign exchange through the export of information technology.Answer the following MCQs by choosing the most appropriate option.Q. What is trade between two countries called and how does it takes place?a)Local Tradeb)National Tradec)International Traded)None of the AboveCorrect answer is option 'C'. Can you explain this answer?.

Solutions for Read the source given below and answer the questions that follows:The exchange of goods among people, states and countries is referred to as trade. The market is the place where such exchanges take place. Trade between two countries is called international trade. It may take place through sea, air or land routes. While local trade is carried in cities, towns and villages, state level trade is carried between two or more states. Advancement of international trade of a country is an index to its economic prosperity. It is, therefore, considered the economic barometer for a country. As the resources are space bound, no country can survive without international trade. Export and import are the components of trade. The balance of trade of a country is the difference between its export and import. When the value of exports exceeds the value of imports, it is called a favourable balance of trade. On the contrary, if the value of imports exceeds the value of exports, it is termed as an unfavourable balance of trade. India has trade relations with all the major trading blocks and all geographical regions of the world. Among the world, the commodities exported from India to other countries include gems and jewellery, chemicals and related products, agriculture and allied products, etc. The commodities imported to India include petroleum crude and products, gems and jewellery, chemicals and related products, base metals, electronic items, machinery, agriculture and allied products. India has emerged as a software giant at the international level and it is earning large foreign exchange through the export of information technology.Answer the following MCQs by choosing the most appropriate option.Q. What is trade between two countries called and how does it takes place?a)Local Tradeb)National Tradec)International Traded)None of the AboveCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for Class 10. Download more important topics, notes, lectures and mock test series for Class 10 Exam by signing up for free.

Here you can find the meaning of Read the source given below and answer the questions that follows:The exchange of goods among people, states and countries is referred to as trade. The market is the place where such exchanges take place. Trade between two countries is called international trade. It may take place through sea, air or land routes. While local trade is carried in cities, towns and villages, state level trade is carried between two or more states. Advancement of international trade of a country is an index to its economic prosperity. It is, therefore, considered the economic barometer for a country. As the resources are space bound, no country can survive without international trade. Export and import are the components of trade. The balance of trade of a country is the difference between its export and import. When the value of exports exceeds the value of imports, it is called a favourable balance of trade. On the contrary, if the value of imports exceeds the value of exports, it is termed as an unfavourable balance of trade. India has trade relations with all the major trading blocks and all geographical regions of the world. Among the world, the commodities exported from India to other countries include gems and jewellery, chemicals and related products, agriculture and allied products, etc. The commodities imported to India include petroleum crude and products, gems and jewellery, chemicals and related products, base metals, electronic items, machinery, agriculture and allied products. India has emerged as a software giant at the international level and it is earning large foreign exchange through the export of information technology.Answer the following MCQs by choosing the most appropriate option.Q. What is trade between two countries called and how does it takes place?a)Local Tradeb)National Tradec)International Traded)None of the AboveCorrect answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Read the source given below and answer the questions that follows:The exchange of goods among people, states and countries is referred to as trade. The market is the place where such exchanges take place. Trade between two countries is called international trade. It may take place through sea, air or land routes. While local trade is carried in cities, towns and villages, state level trade is carried between two or more states. Advancement of international trade of a country is an index to its economic prosperity. It is, therefore, considered the economic barometer for a country. As the resources are space bound, no country can survive without international trade. Export and import are the components of trade. The balance of trade of a country is the difference between its export and import. When the value of exports exceeds the value of imports, it is called a favourable balance of trade. On the contrary, if the value of imports exceeds the value of exports, it is termed as an unfavourable balance of trade. India has trade relations with all the major trading blocks and all geographical regions of the world. Among the world, the commodities exported from India to other countries include gems and jewellery, chemicals and related products, agriculture and allied products, etc. The commodities imported to India include petroleum crude and products, gems and jewellery, chemicals and related products, base metals, electronic items, machinery, agriculture and allied products. India has emerged as a software giant at the international level and it is earning large foreign exchange through the export of information technology.Answer the following MCQs by choosing the most appropriate option.Q. What is trade between two countries called and how does it takes place?a)Local Tradeb)National Tradec)International Traded)None of the AboveCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for Read the source given below and answer the questions that follows:The exchange of goods among people, states and countries is referred to as trade. The market is the place where such exchanges take place. Trade between two countries is called international trade. It may take place through sea, air or land routes. While local trade is carried in cities, towns and villages, state level trade is carried between two or more states. Advancement of international trade of a country is an index to its economic prosperity. It is, therefore, considered the economic barometer for a country. As the resources are space bound, no country can survive without international trade. Export and import are the components of trade. The balance of trade of a country is the difference between its export and import. When the value of exports exceeds the value of imports, it is called a favourable balance of trade. On the contrary, if the value of imports exceeds the value of exports, it is termed as an unfavourable balance of trade. India has trade relations with all the major trading blocks and all geographical regions of the world. Among the world, the commodities exported from India to other countries include gems and jewellery, chemicals and related products, agriculture and allied products, etc. The commodities imported to India include petroleum crude and products, gems and jewellery, chemicals and related products, base metals, electronic items, machinery, agriculture and allied products. India has emerged as a software giant at the international level and it is earning large foreign exchange through the export of information technology.Answer the following MCQs by choosing the most appropriate option.Q. What is trade between two countries called and how does it takes place?a)Local Tradeb)National Tradec)International Traded)None of the AboveCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of Read the source given below and answer the questions that follows:The exchange of goods among people, states and countries is referred to as trade. The market is the place where such exchanges take place. Trade between two countries is called international trade. It may take place through sea, air or land routes. While local trade is carried in cities, towns and villages, state level trade is carried between two or more states. Advancement of international trade of a country is an index to its economic prosperity. It is, therefore, considered the economic barometer for a country. As the resources are space bound, no country can survive without international trade. Export and import are the components of trade. The balance of trade of a country is the difference between its export and import. When the value of exports exceeds the value of imports, it is called a favourable balance of trade. On the contrary, if the value of imports exceeds the value of exports, it is termed as an unfavourable balance of trade. India has trade relations with all the major trading blocks and all geographical regions of the world. Among the world, the commodities exported from India to other countries include gems and jewellery, chemicals and related products, agriculture and allied products, etc. The commodities imported to India include petroleum crude and products, gems and jewellery, chemicals and related products, base metals, electronic items, machinery, agriculture and allied products. India has emerged as a software giant at the international level and it is earning large foreign exchange through the export of information technology.Answer the following MCQs by choosing the most appropriate option.Q. What is trade between two countries called and how does it takes place?a)Local Tradeb)National Tradec)International Traded)None of the AboveCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Read the source given below and answer the questions that follows:The exchange of goods among people, states and countries is referred to as trade. The market is the place where such exchanges take place. Trade between two countries is called international trade. It may take place through sea, air or land routes. While local trade is carried in cities, towns and villages, state level trade is carried between two or more states. Advancement of international trade of a country is an index to its economic prosperity. It is, therefore, considered the economic barometer for a country. As the resources are space bound, no country can survive without international trade. Export and import are the components of trade. The balance of trade of a country is the difference between its export and import. When the value of exports exceeds the value of imports, it is called a favourable balance of trade. On the contrary, if the value of imports exceeds the value of exports, it is termed as an unfavourable balance of trade. India has trade relations with all the major trading blocks and all geographical regions of the world. Among the world, the commodities exported from India to other countries include gems and jewellery, chemicals and related products, agriculture and allied products, etc. The commodities imported to India include petroleum crude and products, gems and jewellery, chemicals and related products, base metals, electronic items, machinery, agriculture and allied products. India has emerged as a software giant at the international level and it is earning large foreign exchange through the export of information technology.Answer the following MCQs by choosing the most appropriate option.Q. What is trade between two countries called and how does it takes place?a)Local Tradeb)National Tradec)International Traded)None of the AboveCorrect answer is option 'C'. Can you explain this answer? tests, examples and also practice Class 10 tests.