MCQs LESSON-9 INTERNATIONAL TRADE

MCQs INTERNATIONAL TRADE

Q1. The intial form of trade in primitive soceities was:
A. International trade
B. Barter system
C. Food grains trade
D. None
Ans: B

Q2. The exchange of goods & services among countries across national
boundaries is known as:
A. National Trade
B. International Trade
C. Bilateral Trade
D. Multi lateral trade
Ans: B

Q3. Barter system is practiced today in :
A. Jon-jeel Mela
B. Jauljivi Mela
C. Winter carnival
D. Jon beel mela
Ans: D

Q4.The silk Route an early example of long distance trade connected:
A. Rome to China
B. Italy to Rome
C. India to China
D. China to Britain
Ans. A

Q5. A new form of trade which began with the European colonialism was:
A. Gold & silver trade
B. Opium Trade
C. Tobacco Trade
D. Slave trade
Ans. D

Q6. International trade is based on the principles of :
A. Comparative Advantage
B. Complimentarity
C. Tranferabiltiy
D. All of the above
Ans. D

Q7. Which of the following is not a basis of international trade?
A. Difference in national resources
B. Population factors
C. Ranking among the world countries
D. Extent of foreign investment
Ans. C

Q8. The important aspects of international trade are:
A. Volume of Trade
B. Direction of Trade
C. Composition of Trade
D. All of the above
Ans. D

Q9. The total value of goods & services is considered to be :
A. Volume of trade
B. Composition of trade
C. Direction of trade
D. Revenue of trade
Ans. A

Q10. What records the volume of goods & services imported as well as
exported by a country to other countries?
A. Balance of trade
B. Balance of items
C. Balance of goods
D. Both B & C
Ans. A

Q11. The trade conducted with many countries is termed as
A. Unilateral trade
B. Bilateral trade
C. Multilateral trade
D. Quadrilateral trade
Ans. C

Q12. The act of opening up economies for trading is known as:
A. Trade liberalization
B. Trade privatization
C. Trade globalization
D. Open trade
Ans. A

Q13.The practice of selling a commodity in two countries at a price that
differs for reasons other than costs is called –
A. Subsidisation
B. Bargain
C. Dumping
D. Free sale
Ans: C

Q14. To liberalise world from high tarrifs & other duties GATT was
formed in which year?
A. 1991
B. 1945
C. 1948
D. 1929
Ans. C

Q15. From 1 January 1995 GATT was transformed into :
A. World trade centre
B. World Trade Organisation
C. Global Trade Organisation
D. Americas Trade organisation
Ans. B
Headquarters: Geneva, Switzerland
Only international organization dealing with global rules of trade
between the nations also resolves disputes between member nations

Q16. Who have come up to encourage trade between countries with
geographical proximity , similarity in trade items and to curb
restrictions on the trade of developing world?
A. WTO
B. WTC
C. UNO
D. Regional Trade blocs
Ans: D

Q17. The chief gateways of the world of international trade are:
A. Harbours
B. Ports
C. Ocean Gates
D. Both A & B
Ans: D

Q18. Ports are classified on what basis?
A. Cargo handled
B. Location
C. Specialised functions
D. All of the above
Ans: D

Q19. The ports which are located away from the sea coast & linked to the
sea through a river or canal are known as:
A. Inland ports
B. Out ports
C. Naval ports
D. Comprehensive ports
Ans: A
Example: Memphis on Mississippi & Kolkata on Hugli

Q20. The deep water ports built away from the actual ports are known
as:
A. Inland ports
B. Deep water ports
C. Out ports
D. Entrepot ports
Ans: C
Example: Piraeus is the out port of Athens port in Greece

Q21. The ports exclusively concerned with the transportation of
passengers & mail across water bodies covering short distance :
A. Out ports
B. Entrepot ports
C. Ferry ports
D. Passenger & Mail ports
Ans: C
Also known as packet station
Example: Dover (England) & Calais (France)

Q22. The ports which deal in processing & shipping of oil are:
A. Ferry ports
B. Oil ports
C. Entrepot ports
D. Naval ports
Ans: B
Example: Tripoli (Lebanon) & Abadan (Gulf of Persia)

Q23. The ports which were developed as calling points to anchor ships :
A. Out ports
B. Ferry ports
C. Packet station
D. Ports of Call
Ans: D
Example: Aden & Honolulu

Q24. The collection centres where the goods are brought from different
countries for export are commonly known as:
A. Out ports
B. Ferry ports
C. Entrepot ports
D. Naval ports
Ans: C
Example: Singapore (Asia) & Rotterdam (Europe)

Q25. Naval ports are the ports which are:
A. Located away from sea
B. Used for strategic purposes
C. Collection centres for goods
D. Important for passenger & mail transport
Ans: B
Example: Kochi & Karwar in India

Q26. Which of the following is the largest landlocked harbor in the
world?
A. New York
B. South Africa
C. Venezuela
D. San Francisco
Ans: D

Q27. Most of the world’s great ports are classified as:
A. Naval Ports
B. Comprehensive Ports
C. Oil Ports
D. Industrial Ports
Ans: B

Q28. Which one of the following continents has the maximum flow of
global trade?
A. Asia
B. Europe
C. North America
D. Africa
Ans: B

Q29. Which one of the following South American nation, is a part of
OPEC?
A. Brazil
B. Venezuela
C. Chile
D. Peru
Ans: B

Q30. In which of the following trade blocs, is India an associate
member?
A. SAFTA
B. ASEAN
C. OECD
D. OPEC
Ans: A