Foreign Trade Quiz Questions

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Questions and Answers

What are the types of foreign trade discussed in the text?

  • Import trade and Export trade (correct)
  • Import trade, Export trade, and Entrepot trade
  • Export trade and Entrepot trade
  • Internal trade and Export trade

Which products are included in the export trends of India's foreign trade?

  • Engineering goods, Gems and Jewellery, and Textiles (correct)
  • None of these products
  • Engineering goods and Textiles
  • Gems and Jewellery, Textiles, and Gold

What is the role of foreign trade according to the text?

  • To encourage investment and lead to division of labour
  • Lead to division of labour and bring change in composition of exports
  • None of these roles
  • To earn foreign exchange and to encourage investment (correct)

Differentiate between Internal trade and International trade based on the text.

<p>Internal trade occurs within a country, while International trade occurs between countries (C)</p> Signup and view all the answers

Explain the concept of Balance of payments vs. Balance of trade as discussed in the text.

<p>Balance of payments refers to the difference in exports and imports, while Balance of trade refers to the total economic transactions of a country (A)</p> Signup and view all the answers

From the examples provided, which scenario represents an international trade activity?

<p>England importing cotton from India, making garments, and selling them to Malaysia (B)</p> Signup and view all the answers

Which organisation had the maximum share in India's direction of imports in 1990-91?

<p>OECD (A)</p> Signup and view all the answers

In 2015-16, which country/organisation saw the largest decrease in its share of India's imports compared to 1990-91?

<p>Eastern Europe (B)</p> Signup and view all the answers

What was the percentage change in India's imports from Others from 1990-91 to 2015-16?

<p>1.1% (C)</p> Signup and view all the answers

Based on the data provided, which sector showed the most significant increase in India's imports from 1990-91 to 2015-16?

<p>Developing Nations (D)</p> Signup and view all the answers

Which region's share in India's imports decreased the most from 1990-91 to 2015-16?

<p>OECD (C)</p> Signup and view all the answers

What was the overall change in India's imports from 1990-91 to 2015-16 based on the provided data?

<p>Increased (C)</p> Signup and view all the answers

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