Direction: In the Following Questions, A Statement of Assertion Is Followed by A Statement of Reason. Mark The Correct Choice As:Assertion : International trade has undergone a sea of changes in the last decades.Reason: Exchange of commodities and goods have been superseded by the exchange of information and knowledgea)If Both assertion and reason are true and reason is the correct explanation of assertion.b)If Both assertion and reason are true but reason is not the correct explanation of assertion.c)If Assertion is true but reason is false.d)If Both assertion and reason are false.Correct answer is option 'A'. Can you explain this answer?

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Direction: In the Following Questions, A Statement of Assertion Is Followed by A Statement of Reason. Mark The Correct Choice As:

Assertion : International trade has undergone a sea of changes in the last decades.

Reason: Exchange of commodities and goods have been superseded by the exchange of information and knowledge

a)
If Both assertion and reason are true and reason is the correct explanation of assertion.
b)
If Both assertion and reason are true but reason is not the correct explanation of assertion.
c)
If Assertion is true but reason is false.
d)
If Both assertion and reason are false.

Correct answer is option 'A'. Can you explain this answer?

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Direction: In the Following Questions, A Statement of Assertion Is Fo...

India has emerged as a software giant at the international level and it is earning large foreign exchange through the export of information technology.

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Direction: In the Following Questions, A Statement of Assertion Is Fo...

Assertion: International trade has undergone a sea of changes in the last decades.
Reason: Exchange of commodities and goods have been superseded by the exchange of information and knowledge.

The correct answer is option 'A' - If both the assertion and reason are true and the reason is the correct explanation of the assertion.

Explanation:
International trade refers to the exchange of goods, services, and capital across international borders. It plays a crucial role in the economic development of countries by promoting specialization, increasing market size, and fostering competition. Over the last decades, international trade has indeed undergone significant changes.

Evolution of International Trade:
1. Globalization: The process of globalization has led to increased interconnectedness and integration of economies worldwide. It has facilitated the expansion and diversification of international trade.

2. Technological advancements: Rapid advancements in technology, particularly in communication and transportation, have revolutionized international trade. The development of the internet, digital platforms, and logistics systems has made it easier and more efficient to conduct trade across borders.

3. Information and knowledge-based economy: With the rise of the digital age, the exchange of information and knowledge has become increasingly important in international trade. In addition to physical goods, intangible assets such as intellectual property, software, and data have gained prominence.

Reason Explained:
The reason provided in the statement is that the exchange of commodities and goods has been superseded by the exchange of information and knowledge. This is indeed true and can be attributed to several factors:

1. Shift towards services: Many countries have experienced a shift from manufacturing-based economies to service-based economies. Services, which are knowledge-intensive, have become a significant component of international trade.

2. Growth of the digital economy: The digital economy relies heavily on the exchange of information and knowledge. E-commerce, online services, and digital platforms have emerged as important channels for international trade.

3. Intellectual property rights: Intellectual property rights have gained importance in international trade. The exchange of patents, copyrights, and trademarks has become a significant aspect of global trade.

4. Knowledge-intensive industries: Industries such as software development, research and development, and consulting heavily rely on the exchange of information and knowledge. These industries have witnessed significant growth in international trade.

In conclusion, the assertion that international trade has undergone a sea of changes in the last decades is supported by the reason that the exchange of commodities and goods has been superseded by the exchange of information and knowledge. The evolution of technology, the growth of the digital economy, and the shift towards a knowledge-based economy have all contributed to this transformation.

Answered by Dr Manju Sen · View profile

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Direction: In the Following Questions, A Statement of Assertion Is Followed by A Statement of Reason. Mark The Correct Choice As:Assertion : International trade has undergone a sea of changes in the last decades.Reason: Exchange of commodities and goods have been superseded by the exchange of information and knowledgea)If Both assertion and reason are true and reason is the correct explanation of assertion.b)If Both assertion and reason are true but reason is not the correct explanation of assertion.c)If Assertion is true but reason is false.d)If Both assertion and reason are false.Correct answer is option 'A'. Can you explain this answer?

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