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International Trade - Class XII Geography Quiz

Class XII
Geography
International Trade
12 questions
HARD

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1. What is the primary purpose of international trade?

To increase domestic production · To promote cultural exchange · To enhance economic interdependence · To reduce foreign investments

2. Which of the following is a major benefit of international trade?

Increased tariffs · Access to a larger market · Reduced competition · Decreased foreign exchange

3. What term describes the value of a country's exports minus its imports?

Trade surplus · Trade deficit · Balance of trade · Foreign exchange

4. Which organization aims to promote free trade among member countries?

World Trade Organization · International Monetary Fund · United Nations · World Bank

5. What is the impact of globalization on international trade?

Increased isolation of economies · Reduction in trade barriers · Decreased foreign investments · Stagnation of trade growth