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International Trade MCQs for Agriculture

Lesson 15 covers the concept of international trade, its necessity, and the theories of absolute and comparative advantage. It discusses the current status and future prospects of international trade in agricultural commodities, along with multiple-choice questions to assess understanding. The document is part of a course on Agricultural Marketing Trade and Prices at Acharya N.G. Ranga Agricultural University.

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102 views4 pages

International Trade MCQs for Agriculture

Lesson 15 covers the concept of international trade, its necessity, and the theories of absolute and comparative advantage. It discusses the current status and future prospects of international trade in agricultural commodities, along with multiple-choice questions to assess understanding. The document is part of a course on Agricultural Marketing Trade and Prices at Acharya N.G. Ranga Agricultural University.

Uploaded by

r.midhunkumar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Lesson-15

Trade: Concept of International Trade and its need, theories


of absolute and comparative advantage. Present status and
prospects of international trade in agri-commodities

Multiple Choice Questions


Course Name Agricultural Marketing Trade and Prices
Trade: Concept of International Trade and its need,
theories of absolute and comparative advantage.
Lesson 15
Present status and prospects of international trade in
agri-commodities
Content Revisor Name SADDIKUTI HYMA JYOTHI
University/College Name Acharya N.G. Ranga Agricultural University, Guntur
Course Reviewer Name JAHANMOHAN KR
University/College Name Tamil Nadu Agricultural University, Coimbatore

1
Multiple Choice Questions
1. The sale of goods to a foreign country. refers to

a). Foreign Trade b). Export Trade

c) Import Trade d) EXIM Trade (


b)

2. In most countries, foreign trade represents a significant share of

a) EXIM b) FDI

c). Income Per Capita d) GDP (d)

3. Selling the products at a price less than on going price in the market
ia called as

a). Quota b) Tariff

c). Subsidy d). Dumping (d)

4. Free international trade maximizes world output through

a) Countries reducing various taxes imposed.

b) Countries specializing in production of goods they are best suited


for.

c) Perfect competition between countries and other special regions

d) The diluting the international business laws & conditions between


countries (b)

5. Domestic company limits it’s operations to which political


boundaries?

2
a) International b). National

c). Transnational d) Global (b)

6. International trade contributes and increases the world

a) Population b) Inflation

c) Economy d) Trade Barriers (c)

7. The full form of WTO is (b)

a). World Tariff Organization b). World Trade Organization

c) Western Trade Organization d). World Transport


Organization

8. The purchase of goods from a foreign country refers to.

a) Foreign Trade b) Export Trade

c) Import Trade d) EXIM Trade (c)

9. Revealed Comparative Advantage (RCA) is a measure of international


trade specialization as given by
(a)

(a) Balassa (c) Marshall

(b) D Ricardo (d) Samuelson

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