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Trade and factors affecting trade - class-VIII

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Which one of the following terms is used to describe trade between two or more countries?

  1. Internal trade

  2. International trade

  3. External trade

  4. Local trade


Correct Option: B
Explanation:

 It may take place through sea, air or land routes. 

Which of the following commodities is imported from Egypt?

  1. Leather goods

  2. Cotton

  3. Jute manufactures

  4. Handlooms


Correct Option: B

Which of the following items is not exported by India?

  1. Readymade garments

  2. Wool

  3. Footwear

  4. Silk fabrics


Correct Option: B

Industrial raw materials are  ________ products.

  1. Primary

  2. Secondary

  3. Tertiary

  4. Quarternary


Correct Option: A
Explanation:
  • Raw materials form the part of the primary sector. 

India shares longest international boundary with which one of the following country?

  1. Bangladesh

  2. China

  3. Nepal

  4. Bhutan


Correct Option: A
Explanation:
Bangladesh
Bangladesh and India share a 4,096-kilometer (2,545-mile) long international border, the fifth-longest land border in the world. West Bengal with 2,217 km share longest border with Bangladesh. Other states include 262 km in Assam, 856 km in Tripura, 180 km in Mizoram, 443 km in Meghalaya, and 2,217 km in West Bengal.

Trade carried on within the domestic territory of a country is known as______ trade.

  1. International

  2. External

  3. Multilateral

  4. Internal


Correct Option: D
Explanation:
When buying and selling of goods and services takes place within the geographical limits of a country it is known as internal trade. The main features of internal trade are:
1) the buying and selling of goods and services takes place within a country.
2) the payment are made and received in the home country only.
3) there are no or very few formalities to be completed by the traders.

Which of the following is considered the economic barometer for a country?

  1. Local trade

  2. State level trade

  3. International trade

  4. Internal trade


Correct Option: C
Explanation:
Advancement of international trade of a country is an index to its economic prosperity. It is, therefore, considered the economic barometer for a country.

Out of the following, India earns the maximum foreign exchange from the export of __________.

  1. leather

  2. Rubber

  3. Iron

  4. Electronic goods


Correct Option: C
Explanation:

India earns the maximum foreign exchange from the export of Iron.

The pass of Himalayas most commonly used for trade in ancient times was _____.

  1. Zojilla pass

  2. Bomdila pass

  3. Khyber pass

  4. Nat hula pass


Correct Option: C
Explanation:

Throughout history, it has been an important trade route between Central Asia and the Indian subcontinent and a vital strategic military choke point for various states that came to control it. 

 

The exchange of ideas and commodities between India and the rest of the world since ancient times is due to the fact that _______.

  1. India has been a world leader since ancient times

  2. India enslaved other countries and forced them to adopt its ideas

  3. Other countries were afraid of India and hence adopted its ideas

  4. The passes between the mountains and the sea routes enabled trade and the spread of Indian ideas in the rest of the world


Correct Option: D
Explanation:

The exchange of ideas and commodities between India and the rest of the world since ancient times is due to the fact that passes between the mountains and the sea routes enabled trade and the spread of Indian ideas in the rest of the world.

Which one of the following terms is used to describe trade between two or more countries?

  1. Internal trade

  2. External trade

  3. International trade

  4. Local trade


Correct Option: C
Explanation:

International trade is the exchange of capital, goods, and services across international borders or territories. In most countries, such trade represents a significant share of gross domestic product (GDP)

Trade between two or more countries is termed as ________.

  1. External trade

  2. International trade

  3. Internal trade

  4. Trans-nation trade


Correct Option: B
Explanation:

 It may take place through sea, air or land routes. 

The length of India's coast line is about __________.

  1. 7,500 km

  2. 5,900 km

  3. 7,000 km

  4. 6,100 km


Correct Option: A
Explanation:

India is a peninsula covered by water on three sides. It has a long coastline of 7,517 km.

What locational advantage does India possess for International trade?

  1. Central location in the Eastern hemisphere

  2. Location in the middle of the developing countries

  3. Location at the sourthern end of Asia

  4. Location on the east-west oceanic route through the Suez Canal


Correct Option: D

If the commodities manufactured in Surat and sold in Mumbai or Delhi, then it is ________.

  1. International trade

  2. Internal trade

  3. Free trade

  4. Territorial trade


Correct Option: B

Which factors result in the exchange of goods?

  1. Geology

  2. Vegetation

  3. Soil

  4. All the above


Correct Option: D

These are primary products:
This question has multiple answers.

  1. Cereals

  2. Cotton

  3. Computers

  4. Fruits


Correct Option: A,B,D
Explanation:

Primary products are the products which are used in raw form ,which are not manufactured. Hence cereal, cotton and fruits are in raw form i.e they are produced by earth.

Trade occurs because of ______ of goods in one place.

  1. Excess

  2. Surplus

  3. Large amount

  4. Less amount


Correct Option: B
Explanation:

Trade occurs because of surplus of goods in one place. A trade surplus is an economic measure of a positive balance of trade, where a country's exports exceed its imports. 

Which regions supply softwood and dairy products?

  1. Temperate

  2. Tropical

  3. Boreal

  4. Tundra


Correct Option: A

______ trade is between a number of countries.

  1. Retail

  2. Bilateral

  3. Wholesale

  4. Multilateral


Correct Option: D
Explanation:
Multilateral trade agreements are commerce treaties between three or more nations.

Trade within the country is called ______ trade.

  1. Bilateral

  2. International

  3. Multilateral

  4. Internal


Correct Option: D
Explanation:
  • Domestic trade is also known as internal trade or home trade. It is the exchange of domestic goods within the boundaries of a country. 

________ trade is the exchange of commodities between two countries.

  1. Bilateral

  2. Multilateral

  3. Wholesale

  4. Retail


Correct Option: A
Explanation:
  • Bilateral trade is an exchange of commodities exclusively between two countries.

________ is the exchange of commodities within or between countries.

  1. Export-Import

  2. Business

  3. Trade

  4. Commerce


Correct Option: C
Explanation:

Trade may be defined as "an exchange of goods and commodities either within the country or between countries." In simple terms, buying and selling of commodities is called trade and it may be local, regional, national and international.

Oil is found abundantly in ______.

  1. Canada

  2. Middle East

  3. Malaysia

  4. Sweden


Correct Option: B
Explanation:

The most widely accepted theory for why the Middle East is loaded with oil is that the region was not always a vast desert. Scientists say that 100 million years ago this area was instead a massive body of water known as the “Tethys Ocean.” Rivers that fed into this ocean were loaded with nutrients, which lead to conditions that were conducive for a diverse variety of microscopic life to materialize in the water.

These conditions resulted in billions and billions of minuscule marine creatures swimming about. Algae, bacteria, and whatever else nature came up with eventually accumulated on the ocean floor in thick layers that grew to be miles deep. As more layers formed on top of these over time, the lower parts were compressed. Those compressed aquatic corpses transformed into oil. The oil was captured in place on the seabed by thick layers of salt.

As the land in the modern Middle East region rose due to tectonic activity, the Tethys Ocean receded. What remained in its place was the sandy, dry Middle Eastern desert. But deep under the sand, the oily remains of billions of microscopic lifeforms still lie buried. Today, we suck these remains to the surface and use them.

 Switzerland is famous for ______.

  1. Silk fabrics

  2. Computers

  3. Watches

  4. Perfumes


Correct Option: C
Explanation:

  • Switzerland is known to have dominated the watch market for years
  • With a reputation for renowned craftsmanship, brands such as Rolex have ensured their timepieces remain the last word in elegance and style.

Which out of these is produced by China?

  1. Watches

  2. Silk fabrics

  3. Computers

  4. Cotton fabrics


Correct Option: B
Explanation:
  • China is the world's largest silk producer
  • The vast majority of Chinese silk originates from the mulberry silkworms.
  • More than ten million farmers in China raise silk and nearly half a million people are employed in silk-fabric production

International trade flow is controlled by the ________ conditions.

  1. Economic

  2. Social

  3. Cultural

  4. Religious


Correct Option: A

Give an example of a trading bloc.

  1. UNO

  2. ASEAN

  3. IMF

  4. UNESCO


Correct Option: B
Explanation:

  • ASEAN is a geo-political and economic organization of 10 countries located in Southeast Asia. 
  • The main aims and purposes of ASEAN are to accelerate the economic growth, social progress and cultural development in the region.

Rubber and tin are found abundantly in _____.

  1. Canada

  2. Sweden

  3. Malaysia

  4. Middle East


Correct Option: C
Explanation:

Malaysia is the fifth largest producer and exporter of natural rubber. They are the leader in the production and export of rubber products. They are also the largest consumer of natural rubber.

Malaysia's most economically significant natural resource is tin; its tin deposits are the most extensive in the world. Other important natural resources are bauxite, copper, gold, iron ore, natural gas, petroleum, and timber.

International trade is influenced by ______ relationship among the countries.

  1. Social

  2. Political

  3. Economic

  4. Cultural


Correct Option: B
Explanation:
  • The world's political relations has a big impact on international trade. 
  • International trade can be one of the most contentious of political issues, both domestically and between governments.

______ has primarily played an important role in developing trade.

  1. Communication

  2. Technology

  3. Transportation

  4. Media


Correct Option: C
Explanation:
  • Transportation plays a major role in the economic uplift of a country as it promotes internal and external trade, economic use of natural resources, mobility of skilled labour-force, diversification of markets, provision of fuel, reduction in employment, increase in agricultural and industrial production etc. 

_______ populated countries have less international trade.

  1. Sparsely

  2. Densely

  3. Largely

  4. Moderately


Correct Option: B
Explanation:

Densely populated countries have less international trade because domestic consumption is high and there is not much surplus left.

An example of a labour intensive good, which may be exported, is ________.

  1. Silk fabrics

  2. Watches

  3. Perfumes

  4. Tea


Correct Option: D
Explanation:

Labor intensive refers to a process or industry that requires a large amount of labor to produce its goods or services. A prime example of a labor-intensive industry relates to tea production, especially those companies involved in the cultivating of tea leaves that must be picked with minimal damage to the plant as a whole.

Which two countries export machinery, automobiles, chemicals?
This question has multiple answers.

  1. USA

  2. Canada

  3. Latin America

  4. Europe


Correct Option: A,B
Explanation:

The United States is the most important economic markets in the world. The largest exports of the United States are cars, refined petroleum, planes, helicopters, and spacecraft, and pharmaceuticals. The success of the United States economy can be attributed to factors such as a wealth of natural resources, excellent infrastructure, and a productive workforce. The country also has the designation of being the world's largest industrial sector. 


Second, comes Canada. It is one of the world's wealthiest nations. Motor Vehicles, aircraft, coal, and fertilizers are some of the top exports of Canada. After WWII, Canada’s economy developed rapidly fueled by growing service, manufacturing, and mining sectors. The discovery of oil reserves has propelled Canada to the fifth largest producer of oil in the world. The country produces high-quality products since it is a high-tech industrial society, which competes favorably in the international market.

Which region is an importer of food grains and petroleum?

  1. Asia

  2. North America

  3. Australia

  4. Europe


Correct Option: C

Which region exports finished and semi-finished products?

  1. North America

  2. Africa

  3. Asia

  4. Europe


Correct Option: D

An Asian country who is not an importer of manufactured goods _________.

  1. India

  2. China

  3. Indonesia

  4. Japan


Correct Option: D
Explanation:

Japan is  an asian country which doesn't import manufactured goods as it has developed its' manufacturing industry. Almost everything is manufactured in Japan. Japan has become rich and developed because they invested a lot in human resources in the field of education and health to succeed. Their system of governance is stable and consistent over the years. 

Wood pulp is imported from ______.

  1. Canada

  2. Malaysia

  3. Middle East

  4. Sweden


Correct Option: D
Explanation:

The forest industry as a whole plays an important part in the Swedish economy. It is also heavily export oriented and makes a significant contribution to Sweden’s trade balance. Sweden is the world’s second largest exporter of pulp, paper and sawn wood products combined.  Of the pulp and paper production, close to 90 percent is exported. As for pulp production, around a quarter of the total consumption of pulp within the europe are manufactured in Sweden. 

 

Which countries are rich in raw materials and minerals?

  1. African

  2. Asian

  3. European

  4. American


Correct Option: B

Which region has the largest volume of trade in the world?

  1. Usa

  2. Asia

  3. Europe

  4. Australia


Correct Option: C

Which one of the following continents exports agricultural products?

  1. Asia

  2. Australia

  3. North America

  4. Europe


Correct Option: B
Explanation:

The main agricultural exports of Australia include wheat, beef,meat, and wool.Australia's export account for over 90 percent of wool and cotton production, nearly 80 percent of wheat, over 50 percent of barley and rice, over 40 percent of beef and grain legumes, over 30 percent of dairy products, and nearly 20 percent of fruit production.

Which region covers the Caribbean islands?

  1. USA

  2. Canada

  3. Latin America

  4. Australia


Correct Option: C
Explanation:

The Caribbean is a region of the Americas that consists of the Caribbean Sea, its islands and the surrounding coasts. The region is southeast of the Gulf of Mexico and the North American mainland, east of Central America, and north of South America

Latin America exports ______.

  1. Foodstuff

  2. Machinery

  3. Automobiles

  4. Minerals


Correct Option: A
Explanation:

The main exports from Latin America are agricultural products .

It has long been associated with the production and export of a diverse range of agricultural commodities, whether it is coffee from Brazil and Colombia, beef from Argentina, or bananas from Ecuador

Which region mainly imports industrial raw materials?

  1. North America

  2. Africa

  3. Europe

  4. Australia


Correct Option: C
Explanation:
  • Trade in raw materials is extremely important for the sustainability of European countries and their economies.
  •  Construction, chemicals, the automotive and aerospace industries, machinery and equipment are some of the sectors that are most dependent on access to raw materials.
  • The EU has an ongoing trade deficit in raw materials  (SITC sections 2 and 4, including non-manufactured goods such as oilseeds, cork, wood, pulp, textile fibres, ores and other minerals as well as animal and vegetable oils) since 2005.
Choose the correct word.
Primitive method of trade was known as ___________ system.
  1. Value

  2. Barter

  3. Traditional

  4. Money


Correct Option: B
Explanation:

Barter is a system where people engage in exchange of goods and services without the use of money as payment. Instead in return of the item purchased, one has to provide some service or give some goods in return to the person from which the good is purchased.

Which of the following documents are required for international tourism?

  1. Passport

  2. Visa

  3. Travel insurance

  4. All of above


Correct Option: D
Explanation:

To go to a foreign country, one needs a passport, visa, travel insurance and other documents. We should have currency of the country where we are going. For this we need to exchange our currency value with that currency.

Which one of the following has been recently added to the list of exports items in India?

  1. Rubber

  2. Sugar

  3. Coffee

  4. Rice


Correct Option: A
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