All Courses
Get the App Signup / Login
Sign in Open App
UPSC Exam  >  UPSC Tests  >  Test: International Trade - UPSC MCQ

Test: International Trade - UPSC MCQ


Test Description

10 Questions MCQ Test - Test: International Trade

Test: International Trade for UPSC 2024 is part of UPSC 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 course for UPSC & Test: International Trade solutions in Hindi for UPSC 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 for UPSC Exam | Download free PDF with solutions
Test: International Trade - Question 1
Save

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
Save

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.
1 Crore+ students have signed up on EduRev. Have you? Download the App
Test: International Trade - Question 3
Save

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
Save
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
Save
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
Save
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
Save
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
Save
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
Save
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
Save
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.
Information about Test: International Trade Page
In this test you can find the Exam questions for Test: International Trade solved & explained in the simplest way possible. Besides giving Questions and answers for Test: International Trade, EduRev gives you an ample number of Online tests for practice

Top Courses for UPSC

Download as PDF

Top Courses for UPSC

Important Questions for International Trade

Find all the important questions for International Trade at EduRev.Get fully prepared for International Trade with EduRev's comprehensive question bank and test resources. Our platform offers a diverse range of question papers covering various topics within the International Trade syllabus. Whether you need to review specific subjects or assess your overall readiness, EduRev has you covered. The questions are designed to challenge you and help you gain confidence in tackling the actual exam. Maximize your chances of success by utilizing EduRev's extensive collection of International Trade resources.

International Trade MCQs with Answers

Prepare for the International Trade within the UPSC exam with comprehensive MCQs and answers at EduRev. Our platform offers a wide range of practice papers, question papers, and mock tests to familiarize you with the exam pattern and syllabus. Access the best books, study materials, and notes curated by toppers to enhance your preparation. Stay updated with the exam date and receive expert preparation tips and paper analysis. Visit EduRev's official website today and access a wealth of videos and coaching resources to excel in your exam.

Online Tests for International Trade

Practice with a wide array of question papers that follow the exam pattern and syllabus. Our platform offers a user-friendly interface, allowing you to track your progress and identify areas for improvement. Access detailed solutions and explanations for each test to enhance your understanding of concepts. With EduRev's Online Tests, you can build confidence, boost your performance, and ace International Trade with ease. Join thousands of successful students who have benefited from our trusted online resources.
© EduRev
Education Revolution
Follow Us
Signup to see your scores go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup