I.Com part 2 Principles of Economics Chapter 5 Short Question Preparation

12th Class Principles of Economics
Chapter 5

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12th Class Principles of Economics Chapter Wise Preparation

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Chapter 3
Chapter 4
Chapter 5
Chapter 6
Chapter 7
Chapter 8
Chapter 9
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Online Short Questions For Chapter 5 "ICom Part 2 Principles of Economics Chapter 5 Short Questions Preparation "

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Economics - ICom Part 2 Principles of Economics Chapter 5 Short Questions Preparation

Question # 1

What is menat by international trade.

Ans 1: International trade is the trade that takes place between the inhabitants of two countries.

Question # 2

Define terms of trade.

Ans 1: The rate at which commodities are exchanged with each other in the international trade is called terms of trade.

Question # 3

What can be the other name of comparative cost theory.

Ans 1: General theory of international trade.

Question # 4

What is meant by deficit or unfavourable balance of payments.

Ans 1: If a country exports its visible and invisible goods of less value than the value of its imports of visible and invisible goods then, Its balance of payments willbe deficits or unfavourable.

Question # 5

What is multinational or transnationlal corporation.

Ans 1: A mutinational coporation or multinational enterprise or transnational cooporation is a corporation that manages production establishments or delivers services in a at least two countries.

Question # 6

Name the classical theories of international trade.

Ans 1: 1- Absolute advantage theory of Adam Smith
Ans 2: 2- Comparative cost theory of Richardo

Question # 7

Who did present the comparative cost theory of international trade.

Ans 1: Prof. Ricardo presented comparative cost or comparative advantage theory of international trade

Question # 8

Write four advantages of globalisation.

Ans 1: 1- Use of better technology 2- Availability of better quality goods
Ans 2: 3- Repidness in developmental works
Ans 3: 4- Arising of atmosphere of brotherbood

Question # 9

What is meant by domestic trade.

Ans 1: The trade that takes place between teh iindivbiduals living in the same country is called domestic or national or internal trade.

Question # 10

Which are invisible items of balace of payments.

Ans 1: 1- Rewards of the services of foreign companies.
Ans 2: 2- Expenditure on education in foreign countries.
Ans 3: 3- Expenditure on treatmentin foreign countries.
Ans 4: 4- expenditure on Torism 5- Financial aid 6- Man power carning
Ans 5: 7- Expenditure on foreign loans.

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ICom Part 2 Principles of Economics Chapter 5 Short Questions Preparation - Set 1

Question # 1

What is menat by international trade.

Ans 1: International trade is the trade that takes place between the inhabitants of two countries.

Question # 2

Define terms of trade.

Ans 1: The rate at which commodities are exchanged with each other in the international trade is called terms of trade.

Question # 3

What can be the other name of comparative cost theory.

Ans 1: General theory of international trade.

Question # 4

What is meant by deficit or unfavourable balance of payments.

Ans 1: If a country exports its visible and invisible goods of less value than the value of its imports of visible and invisible goods then, Its balance of payments willbe deficits or unfavourable.

Question # 5

What is multinational or transnationlal corporation.

Ans 1: A mutinational coporation or multinational enterprise or transnational cooporation is a corporation that manages production establishments or delivers services in a at least two countries.

Question # 6

Name the classical theories of international trade.

Ans 1: 1- Absolute advantage theory of Adam Smith
Ans 2: 2- Comparative cost theory of Richardo

Question # 7

Who did present the comparative cost theory of international trade.

Ans 1: Prof. Ricardo presented comparative cost or comparative advantage theory of international trade

Question # 8

Write four advantages of globalisation.

Ans 1: 1- Use of better technology 2- Availability of better quality goods
Ans 2: 3- Repidness in developmental works
Ans 3: 4- Arising of atmosphere of brotherbood

Question # 9

What is meant by domestic trade.

Ans 1: The trade that takes place between teh iindivbiduals living in the same country is called domestic or national or internal trade.

Question # 10

Which are invisible items of balace of payments.

Ans 1: 1- Rewards of the services of foreign companies.
Ans 2: 2- Expenditure on education in foreign countries.
Ans 3: 3- Expenditure on treatmentin foreign countries.
Ans 4: 4- expenditure on Torism 5- Financial aid 6- Man power carning
Ans 5: 7- Expenditure on foreign loans.

Submit

ICom Part 2 Principles of Economics Chapter 5 Short Questions Preparation - Set 2

Question # 1

Who did present the comparative cost theory of international trade.

Ans 1: Prof. Ricardo presented comparative cost or comparative advantage theory of international trade

Question # 2

When is balanc eof payment surplus.

Ans 1: Balance of payment is surplus when current account is surplus

Question # 3

Name the classical theories of international trade.

Ans 1: 1- Absolute advantage theory of Adam Smith
Ans 2: 2- Comparative cost theory of Richardo

Question # 4

Difference between national and international trade.

Ans 1: The trade that takes place between the individuals living in the same country is caleld national or internal trade. Conversely, the trade that takes place among the individuals living in differen countries of the world is called internatioal or external trade

Question # 5

What is meant by W.T.O.

Ans 1: W.T.O is iinternational body which deals with the rules of interventional trade between nations. Its main objective are thes.
Ans 2: 1- To makeinternational trade free
Ans 3: 2- To eliminate allobstacles in the way of in internatioal trade. W.T.O. came into existence on 1st January 1995

Question # 6

What is meant by surplus balance of trade.

Ans 1: If a country exports visile goods having more value than tha tof visible goods imported by it. the balance of trade is said to be surplus of favourable.

Question # 7

Define balance of payment in the word of Prof. Kindle Berger.

Ans 1: It is the systematic record of all economic transactions of a country with the rest of the world.

Question # 8

What is meant by domestic trade.

Ans 1: The trade that takes place between teh iindivbiduals living in the same country is called domestic or national or internal trade.

Question # 9

What is multinational or transnationlal corporation.

Ans 1: A mutinational coporation or multinational enterprise or transnational cooporation is a corporation that manages production establishments or delivers services in a at least two countries.

Question # 10

What is meant by surplus or favourable balacnce of payments.

Ans 1: If a country exports its visible and invisible goods of more valeu than the value of its imports of visible and invisible goods, thenits balacne of payments will be surplus or favourable.

Submit

ICom Part 2 Principles of Economics Chapter 5 Short Questions Preparation - Set 3

Question # 1

Define balance of payment in the word of Prof. Kindle Berger.

Ans 1: It is the systematic record of all economic transactions of a country with the rest of the world.

Question # 2

What is meant by domestic trade.

Ans 1: The trade that takes place between teh iindivbiduals living in the same country is called domestic or national or internal trade.

Question # 3

What is current account of balance of payment.

Ans 1: Account of exports and imports of general goods and services is called current account of balance of payment.

Question # 4

Write four causes of deficit balance of payment sof a country.

Ans 1: 1- Decreasein exports 2- Increase in imports 3- Inflation
Ans 2: 4- Unfavourable terms of trade

Question # 5

Write a few disadvantages of international trade.

Ans 1: 1- Dependence on productionof limited goods.
Ans 2: 2- Dependence on other countries.
Ans 3: 3- International effects of inflation and deflation on the economy
Ans 4: 4- Loss to backward countries.
Ans 5: 5- Monopoly of developed countries on international market

Question # 6

Who did present classicial theory of international trade.

Ans 1: Classical theory of international trade was presented by Prof.Adam Smith and Richardo.

Question # 7

When was WTO set up and how many are its memebrs.

Ans 1: WTO was set up on 1st January 1995. Its members are 151

Question # 8

Difference between national and international trade.

Ans 1: The trade that takes place between the individuals living in the same country is caleld national or internal trade. Conversely, the trade that takes place among the individuals living in differen countries of the world is called internatioal or external trade

Question # 9

What is multinational or transnationlal corporation.

Ans 1: A mutinational coporation or multinational enterprise or transnational cooporation is a corporation that manages production establishments or delivers services in a at least two countries.

Question # 10

What is meant by invisile goods.

Ans 1: Invisible goods are teh goods which cna neither the scene nor felt are invidible goods for example. Service of persons working abroad, Services of banks insurance companies working in other countries etc.

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ICom Part 2 Principles of Economics Chapter 5 Short Questions Preparation - Set 4

Question # 1

Write four measures to improve balance of payments of country.

Ans 1: 1- Increase in exports 2- Decreasein imports 3- Devaluation in currency
Ans 2: 4- Decrease in quantity of money

Question # 2

Write six advantages of intenational trade.

Ans 1: 1- Acquisition of foreign goods.
Ans 2: 2- Availability of goods in cse of shortage 3- Export of surplus production
Ans 3: 4- It causes international peace 5- Removal of monopolies
Ans 4: 6- Optimum use of productive resoruces.

Question # 3

What is meant by invisile goods.

Ans 1: Invisible goods are teh goods which cna neither the scene nor felt are invidible goods for example. Service of persons working abroad, Services of banks insurance companies working in other countries etc.

Question # 4

Who did present the comparative cost theory of international trade.

Ans 1: Prof. Ricardo presented comparative cost or comparative advantage theory of international trade

Question # 5

What is meant by W.T.O.

Ans 1: W.T.O is iinternational body which deals with the rules of interventional trade between nations. Its main objective are thes.
Ans 2: 1- To makeinternational trade free
Ans 3: 2- To eliminate allobstacles in the way of in internatioal trade. W.T.O. came into existence on 1st January 1995

Question # 6

Write a few disadvantages of international trade.

Ans 1: 1- Dependence on productionof limited goods.
Ans 2: 2- Dependence on other countries.
Ans 3: 3- International effects of inflation and deflation on the economy
Ans 4: 4- Loss to backward countries.
Ans 5: 5- Monopoly of developed countries on international market

Question # 7

Write four advantages of WTO.

Ans 1: 1- Peaceful solution of trade differences.
Ans 2: 2- Elimination of taxes oon transportation
Ans 3: 3- Guarantor of peace and Safety
Ans 4: 4- Cheap provision of Necessities of life.

Question # 8

Write four advantages of globalisation.

Ans 1: 1- Use of better technology 2- Availability of better quality goods
Ans 2: 3- Repidness in developmental works
Ans 3: 4- Arising of atmosphere of brotherbood

Question # 9

How many are components of capital account.

Ans 1: Three

Question # 10

Define balance of pyment in the word of Prof.Samuclson.

Ans 1: International balance of payments is all the transaction for which either foreign exchang is spent or received.

Submit

12th Principles of Economics Chapter 5 Preparation

Short Questions
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I.Com part 2 Principles of Economics Chapter 5 Short Question Preparation

12th Class Principles of EconomicsChapter 5

12th Class Principles of Economics Chapter Wise Preparation

Online Short Questions For Chapter 5 "ICom Part 2 Principles of Economics Chapter 5 Short Questions Preparation "

Economics - ICom Part 2 Principles of Economics Chapter 5 Short Questions Preparation

What is menat by international trade.

Define terms of trade.

What can be the other name of comparative cost theory.

What is meant by deficit or unfavourable balance of payments.

What is multinational or transnationlal corporation.

Name the classical theories of international trade.

Who did present the comparative cost theory of international trade.

Write four advantages of globalisation.

What is meant by domestic trade.

Which are invisible items of balace of payments.

Prepare Complete Set Wise Questions For Chapter 5 "ICom Part 2 Principles of Economics Chapter 5 Short Questions Preparation "

Set 1

Set 2

Set 3

Set 4

ICom Part 2 Principles of Economics Chapter 5 Short Questions Preparation - Set 1

What is menat by international trade.

Define terms of trade.

What can be the other name of comparative cost theory.

What is meant by deficit or unfavourable balance of payments.

What is multinational or transnationlal corporation.

Name the classical theories of international trade.

Who did present the comparative cost theory of international trade.

Write four advantages of globalisation.

What is meant by domestic trade.

Which are invisible items of balace of payments.

ICom Part 2 Principles of Economics Chapter 5 Short Questions Preparation - Set 2

Who did present the comparative cost theory of international trade.

When is balanc eof payment surplus.

Name the classical theories of international trade.

Difference between national and international trade.

What is meant by W.T.O.

What is meant by surplus balance of trade.

Define balance of payment in the word of Prof. Kindle Berger.

What is meant by domestic trade.

What is multinational or transnationlal corporation.

What is meant by surplus or favourable balacnce of payments.

ICom Part 2 Principles of Economics Chapter 5 Short Questions Preparation - Set 3

Define balance of payment in the word of Prof. Kindle Berger.

What is meant by domestic trade.

What is current account of balance of payment.

Write four causes of deficit balance of payment sof a country.

Write a few disadvantages of international trade.

Who did present classicial theory of international trade.

When was WTO set up and how many are its memebrs.

Difference between national and international trade.

What is multinational or transnationlal corporation.

What is meant by invisile goods.

ICom Part 2 Principles of Economics Chapter 5 Short Questions Preparation - Set 4

Write four measures to improve balance of payments of country.

Write six advantages of intenational trade.

What is meant by invisile goods.

Who did present the comparative cost theory of international trade.

What is meant by W.T.O.

Write a few disadvantages of international trade.

Write four advantages of WTO.

Write four advantages of globalisation.

How many are components of capital account.

Define balance of pyment in the word of Prof.Samuclson.

12th Principles of Economics Chapter 5 Preparation

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12th Class Principles of Economics
Chapter 5