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1. Choose the right answer from the four alternatives given below.
(i) Most of the world’s great ports are classified as:
(a) Naval Ports (c) Comprehensive Ports
(b) Oil Ports (d) Industrial Ports
Answer:
(ii) Which one of the following continents has the maximum flow of global
trade?
(a) Asia (c) Europe
(b) North America (d) Africa
Answer:
2. Answer the following questions in about 30 words:
(i) What is the basic function of the World Trade Organisation?
Answer:
(ii) Why is it detrimental for a nation to have negative balance of payments?
Answer:
(iii) What benefits do nations get by forming trading blocs?
Answer:
3. Answer the following questions in not more than 150 words:
(i) How are ports helpful for trade? Give a classification of ports on the basis
of their location
Answer:.
(ii) How do nations gain from International Trade?
Answer: