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प्रश्न
Explain how, in modern times, trade is the basis of world's economic organisation and is related to the foreign policy of the nations.
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उत्तर
- International trade is the result of specialisation in production. It benefits the world economy if different countries practise specialisation and division of labour in the production of commodities or provision of services.
- Each kind of specialisation can give rise to trade. Thus, international trade is based on the principle of comparative advantage, complimentarity and transferability of goods and services and in principle, should be mutually beneficial to the trading partners.
- With well developed transportation and communication systems, no country is willing to forego the benefits derived from participation in international trade.
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संबंधित प्रश्न
Which one of the following South American nation, is a part of OPEC?
What is the basic function of the World Trade Organisation?
Where are WTO headquarters?
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What are the components of International trade?
Where is WTO Headquarter located?
India's balance of trade is negative due to.
Offshore terminal at Vadinar belongs to ____________.
Deepest harbor for large vessels is ____________.
Identify the South America county from the following options which is a part of OPEC.
Which of the following is an aspect of international trade?
Which of the following describes composition of trade?
The headquarters of WTO is at ______.
The headquarters of European Union is located at ______.
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Match the following.
| List I (Organisation) |
List II (Established) |
| A. ASEAN | 1. 1995 |
| B. WTO | 2. 1967 |
| C. NAFTA | 3. 1994 |
Explain how the 'size of population' and the stage of 'economic development' are the bases of international trade.
On the given political map of the World, seven geographical features have been marked as A, B, C, D, E, F and G. Identify any five with the help of the following information and write their correct names on the lines drawn near each feature.
- A major seaport.
- An international airport.
- An important Seaway.
- An area of subsistence gathering in South America.
- An important seaport of Asia.
- An area of Nomadic Herding.
- Region of extensive commercial grain agriculture.
