Trade of 12 Standard Maharashtra State Board

What are the objectives of trade?

• Reducing competition, limiting economic growth, decreasing job opportunities

• Creating trade barriers, restricting economic growth, limiting job opportunities

• Facilitating exchange, promoting economic growth, creating job opportunities, fostering international relations, improving efficiency

• Isolating countries, hindering international relations, promoting inefficiency

Explain the concept of trade cycle.

• Trade cycle refers to the seasonal discounts offered by retailers.

• Trade cycle is the process of exchanging goods between countries.

• The concept of trade cycle refers to the recurring fluctuations in economic activity that occur over time, consisting of four main phases: expansion, peak, contraction, and trough.

• Trade cycle is a term used to describe the rotation of employees in a company.

Discuss the importance of trade in the economic development of a country.

• Trade has no impact on the economic development of a country

• Trade restricts access to new technologies and innovations

• Trade leads to increased poverty and unemployment in a country

• Trade is important for economic development as it allows countries to focus on producing goods and services where they have a comparative advantage, leading to increased efficiency and overall economic growth.

What are the different types of trade barriers?

• tariffs, quotas, subsidies, embargoes, voluntary export restraints

• tariffs, quotas, embargoes, sanctions, subsidies

Explain the role of WTO in promoting international trade.

• The WTO promotes international trade by avoiding disputes and ignoring trade policies.

• The WTO promotes international trade by hindering negotiations and encouraging unfair trade practices.

• The WTO promotes international trade by restricting negotiations and increasing tariffs.

• The WTO promotes international trade by facilitating negotiations, resolving disputes, and monitoring trade policies.

What is the difference between internal trade and external trade?

• Internal trade is limited to services, while external trade involves only goods.

• Internal trade is regulated by international agreements, while external trade is not regulated.

• Internal trade occurs within a country, while external trade occurs between different countries.

• Internal trade is conducted online, while external trade is done in physical stores.

Discuss the challenges faced by small-scale traders in India.

• Abundance of credit opportunities, advanced infrastructure, simple regulations, lack of competition from larger businesses, ease in scaling up operations

• High credit accessibility, well-developed infrastructure, straightforward regulations, no competition from larger businesses, smooth scaling up of operations

• Unlimited credit access, sufficient infrastructure, clear regulations, no competition from larger businesses, no challenges in scaling up operations

• Limited access to credit, lack of infrastructure, complex regulations, competition from larger businesses, difficulties in scaling up operations

Explain the concept of e-commerce and its impact on traditional trade.

• E-commerce has impacted traditional trade by expanding market reach, reducing operational costs, enhancing customer convenience, and enabling personalized shopping experiences.

• E-commerce has no impact on traditional trade

• Traditional trade has completely replaced e-commerce

• E-commerce has led to increased operational costs for traditional trade

What are the documents required for import and export trade?

• Passport, driver's license, birth certificate

• Social security card, credit card, utility bill

• Commercial invoice, packing list, bill of lading or airway bill, certificate of origin, inspection certificate, insurance documents

• Library card, gym membership, student ID

Discuss the role of trade fairs and exhibitions in promoting trade.

• Trade fairs and exhibitions provide a platform for businesses to showcase products, network, and stay updated on industry trends, thus promoting trade.

• Trade fairs and exhibitions hinder communication between businesses, leading to a decrease in trade.

• Trade fairs and exhibitions are only beneficial for large corporations and not for small businesses.

• Trade fairs and exhibitions have no impact on promoting trade and are a waste of resources.