Import and Export
Trending Questions
Q. Choose the correct example/s of import and export from the following:
- India selling goods to Sri Lanka is an example of import.
- India buying goods from Sri Lanka is an example of import.
- India buying coffee from the USA is an example of export.
- India selling rice to Afghanistan is an example of export.
Q. In 1987, Country G faced a foreign currency crisis. Its foreign currency reserves were insufficient to pay for its imports. Hence, it had to take a loan.
Which of the following can be true with respect to the foreign currency crisis?
Which of the following can be true with respect to the foreign currency crisis?
- Country G's exports were greater than imports. Hence, it had to pay more foreign currency than it received.
- Country G's exports were greater than imports. However, it could not convert the Indian currency received from exports to foreign currency to pay for imports.
- Country G's imports were almost equal to its exports. However, it could not convert the Indian currency received from exports to foreign currency to pay for imports.
- Country G's imports were greater than its exports. Hence, it had to pay more foreign currency than it received.
Q. Goods that are not produced in India can be from other countries.
- imported
- traded
- exported
- bartered
Q. When a country exports, it earns domestic currency.
- False
- True
Q. You live in India and had gifted chocolates from the USA to your friend.
The chocolates bought from the USA are which type of goods?
The chocolates bought from the USA are which type of goods?
- Domestic goods
- Exported goods
- Imported goods
- Common goods