Theoretically trade between two countries lakes place on account of (1) differences in costs (2) scarcity of goods (3) comparative differences in costs (4) need for exports

Theoretically trade between two countries lakes place on account of (1) differences in costs (2) scarcity of goods (3) comparative differences in costs (4) need for exports
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comparative differences in costs
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Theoretically trade between two countries lakes place on account of - (1) differences In costs (2) scarcity of goods (3) comparative differences in costs (4) need for exports

Description : Theoretically trade between two countries lakes place on account of - (1) differences In costs (2) scarcity of goods (3) comparative differences in costs (4) need for exports

Last Answer : (3) comparative differences in costs Explanation: Trade exists for man clue to specialization and division of labor, most people concentrate on a small aspect of production, trading for other ... for the benefits of mass production thus providing cost advantage of producing the same commodity.

. Terms of trade is (a) the ratio of imports / exports (b) the ratio of exports/imports © the ratio of goods/services (d) the ratio of land/labour

Description : . Terms of trade is (a) the ratio of imports / exports (b) the ratio of exports/imports © the ratio of goods/services (d) the ratio of land/labour

Last Answer : (b) the ratio of exports/imports

Quantitative restrictions refer to limit set by countries to curb A. Measures that affect trade in goods. B. Measures that lead to restrictions in quantities. C. Discouraging measures that limit a company’s imports. D. Discouraging measures that limit a company’s exports.

Description : Quantitative restrictions refer to limit set by countries to curb A. Measures that affect trade in goods. B. Measures that lead to restrictions in quantities. C. Discouraging measures that limit a company’s imports. D. Discouraging measures that limit a company’s exports.

Last Answer : Discouraging measures that limit a company’s exports.

Comparative advantage occurs when (a) A country can produce more goods than anyone else (b) A country has a lower opportunity cost in the production of a good than any other country © A country has more product lines than other countries (d) The exchange rate appreciates.

Description : Comparative advantage occurs when (a) A country can produce more goods than anyone else (b) A country has a lower opportunity cost in the production of a good than any other country © A country has more product lines than other countries (d) The exchange rate appreciates.

Last Answer : (b) A country has a lower opportunity cost in the production of a good than any other country

The records of exports and imports in goods and services and transfer payments is known as a) Current account b) Budget surplus c) Economic leakage d) degree of openness

Description : The records of exports and imports in goods and services and transfer payments is known as a) Current account b) Budget surplus c) Economic leakage d) degree of openness

Last Answer : a) Current account

The difference in the value of visible exports and visible imports is called : (1) Balance Sheet of items (2) Balance of Payments (3) Balance of Trade (4) Balance of Account

Description : The difference in the value of visible exports and visible imports is called : (1) Balance Sheet of items (2) Balance of Payments (3) Balance of Trade (4) Balance of Account

Last Answer : (3) Balance of Trade Explanation: Balance of Trade refers to the difference between the value of a country's visible imports and visible exports. Also known as the visible balance, it forms part of ... totals more than the value of visible exports, it is known as an adverse balance of trade.

The difference in the value of visible exports and visible imports is called : (1) Balance Sheet of items (2) Balance of Payments (3) Balance of Trade (4) Balance of Account

Description : The difference in the value of visible exports and visible imports is called : (1) Balance Sheet of items (2) Balance of Payments (3) Balance of Trade (4) Balance of Account

Last Answer : Balance of Trade

Theoretically, what is the most significant organ of the WTO? A. The Committee on Trade and Development B. The Council for Trade in Goods C. The General Council D. The Ministerial Conference

Description : Theoretically, what is the most significant organ of the WTO? A. The Committee on Trade and Development B. The Council for Trade in Goods C. The General Council D. The Ministerial Conference

Last Answer : D. The Ministerial Conference

Which of the following best defines price discrimination? a. charging different prices on the basis of race b. charging different prices for goods with different costs of production c. charging different prices based on cost-of-service differences d. selling a certain product of given quality and cost per unit at different prices to different buyers

Description : Which of the following best defines price discrimination? a. charging different prices on the basis of race b. charging different prices for goods with different costs of production c. charging ... a certain product of given quality and cost per unit at different prices to different buyers

Last Answer : d. selling a certain product of given quality and cost per unit at different prices to different buyers

The problem of Economics arises from (1) Plenty (2) Scarcity of goods (3) More wants and less goods (4) All of the above

Description : The problem of Economics arises from (1) Plenty (2) Scarcity of goods (3) More wants and less goods (4) All of the above

Last Answer : (3) More wants and less goods Explanation: The theory of Economic problem states that there is scarcity, or that the finite resources available are insufficient to satisfy all human wants and needs. ... economic problem is the choice one must make, arising out of limited means and unlimited wants.

The problem of Economics arises from (1) Plenty (2) Scarcity of goods (3) More wants and less goods (4) All of the above

Description : The problem of Economics arises from (1) Plenty (2) Scarcity of goods (3) More wants and less goods (4) All of the above

Last Answer : More wants and less goods

Terms of trade of a country show A. Ratio of goods exported and imported B. Ratio of import duties C. Ratio of prices of exports and imports D. (a) and (c) as given above

Description : Terms of trade of a country show A. Ratio of goods exported and imported B. Ratio of import duties C. Ratio of prices of exports and imports D. (a) and (c) as given above

Last Answer : Ratio of prices of exports and imports

What is Integrated Goods and Services Tax? (A) Tax on international trade (B) Tax imposed on interstate trade (C) Tax imposed on value additions to exports (D) Tax imposed on imported goods and services

Description : What is Integrated Goods and Services Tax? (A) Tax on international trade (B) Tax imposed on interstate trade (C) Tax imposed on value additions to exports (D) Tax imposed on imported goods and services

Last Answer : (B) Tax imposed on interstate trade

What is Integrated Goods and Services Tax? (A) Tax imposed on imported goods and services (B) Tax imposed on value additions to exports (C) Tax imposed on interstate trade (D) Tax on international trade

Description : What is Integrated Goods and Services Tax? (A) Tax imposed on imported goods and services (B) Tax imposed on value additions to exports (C) Tax imposed on interstate trade (D) Tax on international trade

Last Answer : (C) Tax imposed on interstate trade

'Quota' is - (1) tax levied on imports (2) imports of capital goods (3) limit on the quantity of imports (4) limit on the quantity of exports

Description : 'Quota' is - (1) tax levied on imports (2) imports of capital goods (3) limit on the quantity of imports (4) limit on the quantity of exports

Last Answer : (3) limit on the quantity of imports Explanation: An import quota is a limit on the quantity of a good that can be produced abroad and sold domestically. It is a type of ... production of a good, service, or activity, thus "protect" domestic production by restricting foreign competition.

‘Quota’ is (1) tax levied on imports (2) imports of capital goods (3) limit on the quantity of imports (4) limit on the quantity of exports

Description : ‘Quota’ is (1) tax levied on imports (2) imports of capital goods (3) limit on the quantity of imports (4) limit on the quantity of exports

Last Answer : limit on the quantity of imports

Scarcity of capital , technological backwardness and unemployment are generally found in a. Developed countries b. Underdeveloped countries c. Both d. None of the above

Description : Scarcity of capital , technological backwardness and unemployment are generally found in a. Developed countries b. Underdeveloped countries c. Both d. None of the above

Last Answer : b. Underdeveloped countries Underdeveloped countries lag behind in various factors like availability of resources, technology etc.

Which is not a reason for conservation of water resources. A. The increase in population with the progress of time results in water scarcity. B. Our water resources like the river, lakes etc., are polluted and their water can hardly use without adequate treatment. C. The water demand for industrial use will increase day by day. D. India gets little rain.

Description : Which is not a reason for conservation of water resources. A. The increase in population with the progress of time results in water scarcity. B. Our water resources like the river, lakes etc., are ... C. The water demand for industrial use will increase day by day. D. India gets little rain.

Last Answer : D. India gets little rain.

Gains from trade can be divided into two parts (a) gains from exports and gains from imports. (b) gains from specialization and gains from exchange. © gains from consumption and gains from production. (d) gains from profit and gains from loss.

Description : Gains from trade can be divided into two parts (a) gains from exports and gains from imports. (b) gains from specialization and gains from exchange. © gains from consumption and gains from production. (d) gains from profit and gains from loss.

Last Answer : (b) gains from specialization and gains from exchange.

.Free trade is based on the principle of (a) Comparative advantage (b) Comparative scale © Economies of advantage (d) Production possibility advantage

Description : .Free trade is based on the principle of (a) Comparative advantage (b) Comparative scale © Economies of advantage (d) Production possibility advantage

Last Answer : (a) Comparative advantage

A country's balance of trade is unfavorable when — (1) exports exceed imports (2) imports exceed exports (3) terms of trade become unfavorable (4) None of these

Description : A country's balance of trade is unfavorable when — (1) exports exceed imports (2) imports exceed exports (3) terms of trade become unfavorable (4) None of these

Last Answer : (2) imports exceed exports Explanation: The balance of trade, or net exports is the difference between the monetary value of exports and imports of output in an economy over a certain period. It is the ... is imported: a negative balance is referred to as a trade deficit or, informally, a trade gap.

A favorable Balance of Trade of a country implies that - (1) Imports are greater than Exports (2) Exports are greater than Imports (3) Both Imports and Exports are equal (4) Rising Imports and Falling Exports

Description : A favorable Balance of Trade of a country implies that - (1) Imports are greater than Exports (2) Exports are greater than Imports (3) Both Imports and Exports are equal (4) Rising Imports and Falling Exports

Last Answer : (2) Exports are greater than Imports Explanation: Favorable balance of trade is an imbalance in a nation's balance of trade in which the payments for merchandise exports received by the country exceed ... and income. A balance of trade surplus is often the source of a balance of payments surplus.

The difference between visible exports and visible imports is defined as - (1) Balance of trade (2) Balance of payment (3) Balanced terms of trade (4) Gains from trade

Description : The difference between visible exports and visible imports is defined as - (1) Balance of trade (2) Balance of payment (3) Balanced terms of trade (4) Gains from trade

Last Answer : (1) Balance of trade Explanation: The balance of trade (or net exports, sometimes symbolized as NX) is the difference between the monetary value of exports and imports of output in an economy over a certain period. It is the relationship between a nation's imports and exports.

The terms of trade measures (a) the income of a country compared to another (b) The GDP of a country compared to another © The quantity of exports of a country compared to another (d) Export prices compared to import prices.

Description : The terms of trade measures (a) the income of a country compared to another (b) The GDP of a country compared to another © The quantity of exports of a country compared to another (d) Export prices compared to import prices.

Last Answer : (d) Export prices compared to import prices.

A favourable Balance of Trade of a country implies that (1) Imports are greater than Exports (2) Exports are greater than Imports (3) Both Imports and Exports are equal (4) Rising Imports and Falling Exports

Description : A favourable Balance of Trade of a country implies that (1) Imports are greater than Exports (2) Exports are greater than Imports (3) Both Imports and Exports are equal (4) Rising Imports and Falling Exports

Last Answer :  Exports are greater than Imports

The difference between visible exports and visible imports is defined as (1) Balance of trade (2) Balance of payment (3) Balanced terms of trade (4) Gains from trade

Description : The difference between visible exports and visible imports is defined as (1) Balance of trade (2) Balance of payment (3) Balanced terms of trade (4) Gains from trade

Last Answer :  Balance of trade

A country’s balance of trade is unfavourable when — (1) exports exceed imports (2) imports exceed exports (3) terms of trade become unfavourable (4) None of these

Description : A country’s balance of trade is unfavourable when — (1) exports exceed imports (2) imports exceed exports (3) terms of trade become unfavourable (4) None of these

Last Answer : imports exceed exports

'PROTECTION' means - (1) Restrictions imposed on import trade (2) Protection to home industries (3) No free exchange of goods and services between two countries (4) All of the above

Description : 'PROTECTION' means - (1) Restrictions imposed on import trade (2) Protection to home industries (3) No free exchange of goods and services between two countries (4) All of the above

Last Answer : (4) All of the above Explanation: Protectionism is the economic policy of restraining trade between states through methods such as tariffs on imported goods, restrictive quotas, and a ... protect businesses and workers within a country by restricting or regulating trade with foreign nations.

‘PROTECTION’ means (1) Restrictions imposed on import trade (2) Protection to home industries (3) No free exchange of goods and services between two countries (4) All of the above

Description : ‘PROTECTION’ means (1) Restrictions imposed on import trade (2) Protection to home industries (3) No free exchange of goods and services between two countries (4) All of the above

Last Answer : All of the above

Terms of trade in developing countries are generally unfavourable because (a) They export manufacturing products. (b) They export primary products. © They export few goods. (d) Both (a) and (c).

Description : Terms of trade in developing countries are generally unfavourable because (a) They export manufacturing products. (b) They export primary products. © They export few goods. (d) Both (a) and (c).

Last Answer : (b) They export primary products.

One of the main factors that led to rapid expansion of Indian exports is - (1) Imposition of import duties (2) Liberalization of the economy (3) Recession in other countries (4) Diversification of exports

Description : One of the main factors that led to rapid expansion of Indian exports is - (1) Imposition of import duties (2) Liberalization of the economy (3) Recession in other countries (4) Diversification of exports

Last Answer : (4) Diversification of exports Explanation: India has rapidly diversified its exports markets from the traditional export partners towards emerging and developing economies. This has played a crucial ... export markets can be noted from the narrowing dependence on selected economies for exports.

In terms of economics, what is an "externality"•? a) Benefits or harm caused by a firm without payment/penalty b) Net income from foreign countries c) Total exports by a country in a given year d) None of the above

Description : In terms of economics, what is an "externality"•? a) Benefits or harm caused by a firm without payment/penalty b) Net income from foreign countries c) Total exports by a country in a given year d) None of the above

Last Answer : a) Benefits or harm caused by a firm without payment/penalty

One of the main factors that led to rapid expansion of Indian exports is (1) Imposition of import duties (2) Liberalisation of the economy (3) Recession in other countries (4) Diversification of exports

Description : One of the main factors that led to rapid expansion of Indian exports is (1) Imposition of import duties (2) Liberalisation of the economy (3) Recession in other countries (4) Diversification of exports

Last Answer : Diversification of exports 

The balance of payments of a country on current account is equal to A. Balance of trade plus short term B. Balance of trade plus net invisible exports C. Balance of payment minus capital flows

Description : The balance of payments of a country on current account is equal to A. Balance of trade plus short term B. Balance of trade plus net invisible exports C. Balance of payment minus capital flows

Last Answer : Balance of trade plus net invisible exports

The term power budgeting refers to ∙ A. the cost of cable, connectors, equipment and installation ∙ B. the loss of power due to defective components ∙ C. the total power available minus the attenuation losses ∙ D. the comparative costs of fiber and copper installations

Description : The term power budgeting refers to ∙ A. the cost of cable, connectors, equipment and installation ∙ B. the loss of power due to defective components ∙ C. the total power available minus the attenuation losses ∙ D. the comparative costs of fiber and copper installations

Last Answer : C. the total power available minus the attenuation losses

According to Heckscher and Ohlin there are two bases of international trade (a) coparative advantage and absolute advantage (b) gains from trade and cost of trade. © difference in factor endowments and differences in factor intensities. (d) none of them.

Description : According to Heckscher and Ohlin there are two bases of international trade (a) coparative advantage and absolute advantage (b) gains from trade and cost of trade. © difference in factor endowments and differences in factor intensities. (d) none of them.

Last Answer : © difference in factor endowments and differences in factor intensities.

The costs of marketing activities account typically for what proportion of consumer spending on goods and services? A)one half B)one third C)one fourth D)one fifth

Description : The costs of marketing activities account typically for what proportion of consumer spending on goods and services? A)one half B)one third C)one fourth D)one fifth

Last Answer : A)one half

Economic problem arises mainly due to (1) overpopulation (2) unemployment (3) scarcity of resources (4) lack of industries

Description : Economic problem arises mainly due to (1) overpopulation (2) unemployment (3) scarcity of resources (4) lack of industries

Last Answer : (3) scarcity of resources Explanation: The theory of Economic problem states that there is scarcity, or that the finite resources available are insufficient to satisfy all human wants and needs. The ... produced and how the factors of production (such as capital and labor) are to be allocated.

The fundamental economic problem faced by all societies is: a. unemployment b. inequality c. poverty d. scarcity

Description : The fundamental economic problem faced by all societies is: a. unemployment b. inequality c. poverty d. scarcity

Last Answer : d. scarcity

Economic problem arises mainly due to (1) overpopulation (2) unemployment (3) scarcity of resources (4) lack of industries

Description : Economic problem arises mainly due to (1) overpopulation (2) unemployment (3) scarcity of resources (4) lack of industries

Last Answer : scarcity of resources

.In Heckscher Ohlin theory production function differ between commodities but are same between---- (a) countries. (b) factors © costs. (d) revenues.

Description : .In Heckscher Ohlin theory production function differ between commodities but are same between---- (a) countries. (b) factors © costs. (d) revenues.

Last Answer : (a) countries.

Brands that are promoted through comparative advertising are MOST likely to be A) market leaders. B) brands that are attempting to compete with market leaders. C) primarily services rather than tangible goods. D) attempting to compete on a nonprice basis. E) competing in a less competitive market.

Description : Brands that are promoted through comparative advertising are MOST likely to be A) market leaders. B) brands that are attempting to compete with market leaders. C) primarily services rather than tangible goods. D) attempting to compete on a nonprice basis. E) competing in a less competitive market.

Last Answer : B) brands that are attempting to compete with market leaders.

Advantages of B2C commerce to customers are (i)wide variety of goods can be accessed and comparative prices can be found (ii) shopping can be done at any time (iii)privacy of transactions can be guaranteed (iv)security of transactions can be guaranteed a. i and ii b. ii and iii c. iii and iv d. i and iv

Description : Advantages of B2C commerce to customers are  (i)wide variety of goods can be accessed and comparative prices  can be found  (ii) shopping can be done at any time  (iii)privacy of transactions can be guaranteed  (iv) ... be guaranteed a. i and ii b. ii and iii c. iii and iv d. i and iv

Last Answer : a. i and ii  

How did the Indian merchants control the goods production for exports? -SST 10th

Description : How did the Indian merchants control the goods production for exports? -SST 10th

Last Answer : . A variety of Indian merchants and bankers were involved in the network of export trade, financing production, carrying goods and supplying to the exporters. . Supply merchants linked the ... had brokers who negotiated the price and bought goods from the supply merchants operating inland.

When did the exports of British cotton goods increase dramatically? -SST 10th

Description : When did the exports of British cotton goods increase dramatically? -SST 10th

Last Answer : In the early 19th century.

Nominal GDP is A. The total value of goods and services net of exports B. The total value of goods and services produced during periods of low unemployment C. The total value of goods and services measured at current prices D. The total value of goods and services produced at full employment.

Description : Nominal GDP is A. The total value of goods and services net of exports B. The total value of goods and services produced during periods of low unemployment C. The total value of goods and services measured at current prices D. The total value of goods and services produced at full employment.

Last Answer : C. The total value of goods and services measured at current prices

Nominal GDP is (a) The total value of goods and services net of exports (b) The total value of goods and services produced during periods of low unemployment (c) The total value of goods and services measured at current prices (d) The total value of goods and services produced at full employment.

Description : Nominal GDP is (a) The total value of goods and services net of exports (b) The total value of goods and services produced during periods of low unemployment (c) The total value of goods and services measured at current prices (d) The total value of goods and services produced at full employment.

Last Answer : (c) The total value of goods and services measured at current prices

Do you think Trump is trying to reduce the trade deficit by imposing taxes on importers and people who buy imported goods in the form of tariffs?

Description : Do you think Trump is trying to reduce the trade deficit by imposing taxes on importers and people who buy imported goods in the form of tariffs?

Last Answer : On the supply side; grain and produce numbers are DROPPING for USA farmers. So, no it is will not reduce deficit because we have reduce what is being sold to China and others impacted by tariffs.

Free Trade refers to - (1) free movement of goods from one country to another (2) movement of goods free of cost (3) unrestricted exchange of goods and service (4) trade free of duty

Description : Free Trade refers to - (1) free movement of goods from one country to another (2) movement of goods free of cost (3) unrestricted exchange of goods and service (4) trade free of duty

Last Answer : (1) free movement of goods from one country to another Explanation: Free trade is a policy by which a government does not discriminate against imports or interfere with exports by ... countries are determined by price strategies that may differ-from those that would emerge under deregulation.

Which among the following is not a non-customs duty obstacle in the world trade? (1) Quantity restriction (2) Establishment of Standard of labour in manufacturing (3) Determination of import duty uniformly (4) Restrictions on goods quality

Description : Which among the following is not a non-customs duty obstacle in the world trade? (1) Quantity restriction (2) Establishment of Standard of labour in manufacturing (3) Determination of import duty uniformly (4) Restrictions on goods quality

Last Answer : (3) Determination of import duty uniformly Explanation: Non-tariff barriers to trade include import quotas, special licenses, unreasonable standards for the quality of goods, bureaucratic delays at customs, ... duty uniformly is comes under the sovereign duty of a nation. It is internal development.