Trade, Its Importance, and About Internal and International Trade

Q. Define 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. Asia-Pacific Economic Cooperation (APEC)
3. Association of South-East Asian Nations (ASEAN)
4. South Asian Association for Regional Cooperation (SAARC)

Q. Which of the following is an/ are example(s) of Internal trade?

1. Transportation of commodities from Tamil Nadu to Uttar Pradesh
2. Transportation of commodities from Tamil Nadu to Sri Lanka
3. Transportation of commodities from Andaman to Uttar Pradesh
4. Transportation of commodities from Gujarat to Indonesia

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

1. False
2. True