international trade

what are the two components of international trade?

• import and trade

• import and export

• export and consumer

• country and consumer

which of the following is not an advantage of international trade?

• opens new markets and exposes countries to goods and services unavailable in their domestic economies

• the competition international trade bring is often damaging to small, domestic industries

• Countries with traditional economies could lose their local farming base

• achieve a competitive advantage in the world market.

When the value of export exceeds the value of import, it is considered ____

• favourable balance

• unfavourable balance

• import

• fair trade

India signed a free trade agreement with

• south korea and north korea

• myanmar and ASEAN

• south korea and ASEAN

• china and hong kong

India’s major trade partners include

• singapore, china, australia, united arab emirates, bangladesh

• United States, United Arab Emirates, China, Singapore, Saudi Arabia and Iraq

• United States, United Arab Emirates, Hong Kong, China, Singapore, Saudi Arabia and Iraq

• none of the above

India IS the world’s fastest-growing large economy

• true

• false

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

The commodities exported from India to other countries include _____

• petroleum crude and products

• base metals, electronic items, machinery , gems and jewelry, chemicals and related products

• agricultural products

• gems and jewelry, chemicals and related products, agriculture and allied products,

what is balance of trade in a country?

• difference between a country’s import and export

• value of a country's import and export

• how much the country earns through trade

• the amount of goods exported/imported

India was expected to overtake which country in becoming the world's next biggest global manufacturer