Trade, Balance of Trade and India's Trade Relation

Q.

What is meant by trade? What is the difference between international and local trade?

Q. relates to the phenomenon wherein people travel to certain places to avail high-quality inexpensive healthcare services.

1. Eco-tourism
2. Medical tourism
3. Adventure tourism

Q. International trade does not influence the value of the currency of a country.

1. False
2. True

Q. The phenomenon wherein a country's exports exceed its imports is called a negative balance of trade.

1. False
2. True

Q. Which among the following terms correctly describes the trade relations between the states of West Bengal and Maharashtra?

1. Technical trade
2. International trade
3. Domestic trade
4. Positional trade

Q. This organisation is an intergovernmental grouping of ten Southeast Asian nations. It acts as a trade bloc to promote economic, political, and security cooperation among its member nations. Since its inception in 1967, this group has tried to play a central role in Asian economic integration and regional stability. However, its influence has gradually declined due to the expansionary Chinese regime and overlapping claims in the South-China Sea with several of this group's member states. Identify this trade bloc.

1. Shanghai Cooperation Organisation (SCO)
2. South Asian Association for Regional Cooperation (SAARC)
3. Asia-Pacific Economic Cooperation (APEC)
4. Association of South-East Asian Nations (ASEAN)

Q. International trade does not influence the value of the currency of a country.

1. False
2. True

Q. is driven by places of historical interest like monuments and museums.

1. Heritage tourism
2. Business tourism
3. Cultural tourism