International Economics

First Economist who introduced basic idea of International Economics

• Adam Smith

• David Ricardo

• Hume

• J M Keynes

Study on economic interdependence between countries and its effects on economies is known as

• International Economics

• Business Economics

• Gender economics

• none of the above

A regional trade organization made up of European nations

• NAFTA

• EU

• ASEAN

• CARICOM

A good that is sent to another country for sale

• export
• import
• quota
• subsidy 

An economy which has no trade relation with other countries is called

Globalisation means

• no trade restriction in the entire globe

• trade between India and USA

• Multinational Company

• Foreign Aid

The value of all monetary transactions between a country's economy and the rest of the world.

• Balance of Trade

• Trade Deficit

• Balance of Payments

• Trade Surplus

A government payment that supports a business or market.

• Tariff

• Standards

• Embargo

• Subsidy

The lowering or elimination of protective tariffs and other trade barriers between two or more nations.

• Free Trade

• Embargos

• Trade Barriers

• Foreign Exchange Rate

The value of a nations currency in relation to a foreign currency.

• Equilibrium Rate

• Export Rate

• Exchange Rate

• Import Rate