Foreign Trade and Economic Development
Economics ⇒ Economic Development
Foreign Trade and Economic Development starts at 11 and continues till grade 12.
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See sample questions for grade 11
Define foreign trade and explain its two main components.
Describe the role of foreign trade in the industrialization of developing countries.
Describe two ways in which foreign trade can contribute to economic development.
Discuss the disadvantages of over-dependence on foreign trade for economic development.
Discuss the impact of foreign trade on employment generation in developing countries.
Discuss the role of foreign trade in the economic development of India since independence.
Explain how foreign trade can lead to specialization in production.
Explain the concept of comparative advantage with an example.
Which of the following is a negative effect of foreign trade on developing countries? (1) Access to better technology (2) Dependency on foreign goods (3) Increase in employment (4) Increase in foreign exchange reserves
Which of the following is a reason for a country to export goods? (1) To earn foreign exchange (2) To reduce employment (3) To increase imports (4) To decrease production
Which of the following is a visible item in foreign trade? (1) Banking services (2) Export of cars (3) Insurance services (4) Tourism
Which of the following is an example of a trade barrier? (1) Tariff (2) Export (3) Import (4) Specialization
Fill in the blank: The __________ account of the balance of payments records all transactions related to exports and imports of goods and services.
Fill in the blank: The __________ account of the balance of payments records capital transfers and acquisition/disposal of non-produced, non-financial assets.
Fill in the blank: The __________ is an international organization that aims to promote free and fair trade among nations.
Fill in the blank: The __________ theory explains that countries should specialize in producing goods in which they have a lower opportunity cost.
State whether the following statement is true or false: 'A country with a trade surplus always has a strong economy.'
State whether the following statement is true or false: 'Foreign trade always leads to equal distribution of income within a country.'
State whether the following statement is true or false: 'Foreign trade can help in reducing poverty in developing countries.'
State whether the following statement is true or false: 'Foreign trade can help in reducing regional disparities within a country.'
