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प्रश्न
State with reason whether you agree or disagree with the following statement:
Trade is an engine of growth for an economy.
विकल्प
Agree
Disagree
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उत्तर
I agree with the above statement.
Reason:
- Trade refers to buying and selling goods and services in exchange for money.
- Trade plays an important role in the process of economic development.
- In developed countries, it represents a significant share of the Gross Domestic Product (GDP).
- Foreign trade helps to earn foreign exchange for a country which can be put to productive use.
- Trade encourages investment in the economy.
- It leads to the division of labour and specialisation. It also leads to optimum allocation and utilisation of resources.
- It also brings stability in prices in the economy.
- Thus, trade is an engine of growth for an economy.
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संबंधित प्रश्न
Explain the concept of foreign trade.
State with reason whether you agree or disagree with the following statement:
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Identify and explain the concept from the given illustration:
Japan sells smartphones to Myanmar.
Purchase of goods and services by one country from another country −
Assertion (A): Trade is an engine of growth for an economy.
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Foreign trade is also known by which of the following alternative names?
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The term 'export surplus' during British rule means that India:
What role did the Suez Canal play in trade between Britain and India?
Which of the following was listed among the major exports from India during British rule?
Which of the following items was an import into India during British rule?
Machine-made cotton cloth imported into India during British rule was categorized as:
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How did the purpose of India's foreign trade change from pre-independence to the present day?
The Jawaharlal Nehru Port, which handles India's foreign trade today, is located at:
Kandla Port, a major port handling India's foreign trade, is also known as:
Mormugao Port, one of India's major foreign trade ports, is located in:
During the pre-independence period, 'Ceylon' was one of India's main trading partners. Ceylon is the former name of which present-day country?
