A primitive system of trade where direct exchange of goods take place:
INTERNATIONAL TRADE

Quiz
•
Geography
•
12th Grade
•
Hard
VIJAYA ROY
Used 10+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Local Trade
Barter Trade
National Trade
International Trade
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is not true about International trade in India?
The value of export is less than the value of import
International trade in India has undergone a sea change from the past
India's contribution in world trade is as low as 4%
Manufactured goods share bulk of exports from India
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
International trade is based on which of the following principles?
Principle of Comparative advantage
It should be mutually beneficial to the trading partners
Complimentarity and Specialisation of skills
All of these
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the cause behind the decline in the share of traditional items of export from India?
Low quality products
Tough international competitions
Decline in the production of traditional items
Decline in demand of these products
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
'Difference of natural resources' is an important basis of interanational trade. Which of the following factors doesn't explain difference in natural resources?
Mineral resources are unevenly distributed
Variation in climate causes variation in natural vegetation
Densely populated countries have large volume of internal trade
None of these
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
India faced serious food shortages in 1950's and 1960's. So food grains were an important item of import. What changed this condition after 1970's?
High Price of grains in International market
The success of Green revolution in India
Spread of epidemics
Decline in population
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is not true about 'Balance of Trade'?
Developing countries have negative balance of trade
Developed countries have negative balance of trade
It refers to the difference between the value of imports and the value of exports
Balance of trade has no relation with developing and developed countries
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