International Trade and Ways of International Trade

Q. What currency does a country pay in when it import goods?

1. Domestic currency
2. Foreign currency
3. Cryptocurrency
4. Gold

Q. Match the following with their appropriate meaning:

1. Two countries trade
2. More than two countries trade
3. Purchase from other country
4. Sell to other country

Q. Country A has trade agreements with Country B and Country C. Country A has another trade agreement with Country D.

In which ways has Country A done international trade?

1. Bilateral trade between countries A, B, and C
2. Bilateral trade between countries A and D
3. Multilateral trade between countries A, B, and C
4. Multilateral trade between countries A and D