Chapter 9 International Trade

1. consider the following statement .

1. Statement : (A) Barter arrangements get quite complicated in a large economy.
2. Reason : (R)  physical money has made transaction very easy .

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2. Consider the following remark in relation to the accurate explanation of Balance of Trade (BOT).

3. Take a look at the following statements about the World Trade Organization.

1. The World Trade Organization (WTO) is a UN specialised agency.
2. The World Trade Organization (WTO) is the only international organisation that deals with international trade rules.

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4. Take a look at the following assertions about inland ports:

1. These ports are not in close proximity to the coast.
2. These are deep-water ports that are built outside of actual ports.
3. They are connected to the sea by a river or canal.
4. These help the parent ports by receiving ships that are too large to approach.

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5. match the following 

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6. Most of the world’s great ports are classified as:

7. Which one of the following continents has the maximum flow of global trade?

8. Which one of the following South American nation, is a part of OPEC?

9. In which of the following trade blocs, is India an associate member?

10. Which one of the following is a tertiary activity?

11. Take a look at the balance of payments statements that follow.

1. When a country’s import expenditure exceeds its export revenue, it is said to have a negative balance of payment.
2. A negative balance of payment means a country’s foreign exchange reserves are running out.

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12. match the following 

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