Trade

Export and Import are the basic processes of _____________

• World Trade Organisation

• International Trade

• National Trade

A country is facing scarcity of oil. This country is likely to ___________?

• Import

• Export

A country can export when the goods are

• cheap

• scarce

• expensive

• in excess

What does this picture indicate?

• Unfavorable Trade

• Favorable Trade

• Balanced Trade

The __________________ between the import and export values of a country in a specific period is called balance of trade.

• distance

• difference

• relation

The headquarters of the World Trade Centre is in _________

• Geneva

• Vienna

• Singapore

• China

What is trade?

Mark the correct statement -

• In ancient times, trade was taken place through the barter system.

• In modern times, trade is taken place through the barter system.

• In today's times, trade is taken place through the barter system.

WTO has its headquarters at ____________________

When a country buys those goods and services which are scarce in their own country from another country, it is known as

• Import

• Export

• International Trade

• Balance of Trade