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प्रश्न
State with reason whether you agree or disagree with the following statement:
Trade is an engine of growth for an economy.
विकल्प
Agree
Disagree
उत्तर
I agree with the above statement.
Reason:
- Trade refers to buying and selling goods and services in exchange for money.
- Trade plays an important role in the process of economic development.
- In developed countries, it represents a significant share of the Gross Domestic Product (GDP).
- Foreign trade helps to earn foreign exchange for a country which can be put to productive use.
- Trade encourages investment in the economy.
- It leads to the division of labour and specialisation. It also leads to optimum allocation and utilisation of resources.
- It also brings stability in prices in the economy.
- Thus, trade is an engine of growth for an economy.
APPEARS IN
संबंधित प्रश्न
Explain the concept of foreign trade and its types.
State with reason whether you agree or disagree with the following statement:
During British rule, indigenous handicrafts suffered a severe blow.
Identify and explain the concept from the given illustration:
Japan sells smartphones to Myanmar.
Purchase of goods and services by one country from another country −
Find the odd word
Types of foreign trade -
Assertion (A): Trade is an engine of growth for an economy.
Reasoning (R): Trade plays an important role for economic development.
Identify & explain the concept from the given illustration.
Alfonso mangoes from Maharashtra are sold in the international market.
Distinguish Between
Internal trade and Foreign trade
Explain the types of foreign trade
