Tag: trade in agricultural produce - i

Questions Related to trade in agricultural produce - i

Which type of currencies are used for international trade?

social science trade in agricultural produce (part - a) trade in tamil nadu trade in agricultural produce - i human geography in tamil nadu

  1. National currency

  2. International currency

  3. Multinational currency

  4. None of these

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Correct Option: C
Explanation:

Multinational currencies are used to carry on international trade.

Why trade is called an engine of growth?

social science trade in agricultural produce (part - a) trade in tamil nadu trade in agricultural produce - i human geography in tamil nadu

  1. Because it helps in the increase of foreign currency reserve

  2. It makes available all kinds of goods anywhere

  3. Trade increases technology transfer

  4. It improves the welfare of the workers

  5. All of these

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Correct Option: E
Explanation:

Trade is called an engine of growth because it helps in the increase of foreign currency reserves; it makes available all kinds of goods anywhere; trade increases technology transfer from one country to another; it improves the welfare of the workers; and it helps to increase the total production of a country.

What is an internal trade?

social science trade in agricultural produce (part - a) trade in tamil nadu trade in agricultural produce - i human geography in tamil nadu

  1. Trade carried out in the country

  2. Trade carried out with other country

  3. Trade carried out with many countries

  4. None of these

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Correct Option: A
Explanation:

Buying and selling of commodities and services within the country is known as internal trade. Whether the products are bought from local market, central market, and departmental store or from a door-to-door salesperson, all these are examples of internal trade. No custom duty or import duty is levied on this type of trade. Internal trade is a field of economy that includes both wholesale and retail trade.

Trade between two or more than two countries is termed as ______.

social science trade in agricultural produce (part - a) trade in tamil nadu trade in agricultural produce - i human geography in tamil nadu

  1. National trade

  2. International trade

  3. Globalization

  4. Privatization

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Correct Option: B
Explanation:
  • International trade is the exchange of capital, goods, and services across international borders or territories.