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International Trade - Class XII Geography Quiz

Class XII
Geography
International Trade
16 questions
HARD

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1. What is the primary purpose of international trade?

To promote local industries · To enhance consumer choice · To reduce foreign exchange reserves · To limit imports

2. Which of the following is NOT a benefit of international trade?

Access to a variety of goods · Increased competition · Trade deficits · Economic growth

3. What term is used to describe the difference between a country's exports and imports?

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

4. Which of the following is a major factor influencing international trade?

Cultural similarities · Geographic proximity · Political stability · All of the above

5. What is the role of the World Trade Organization (WTO) in international trade?

To regulate currency exchange · To promote free trade agreements · To settle trade disputes · To impose tariffs