Advertisements
Advertisements
Questions
Explain how geological structures, mineral resources and climate are the bases of international trade.
Explain how ‘difference in national resources’ act as basis of international trade.
Solution
The world’s national resources are unevenly distributed because of differences in their physical makeup i.e. geology, relief soil, and climate.
- Geological structure: It determines the mineral resource base and topographical differences ensure diversity of crops and animals raised. Lowlands have greater agricultural potential. Mountains attract tourists and promote tourism.
- Mineral resources: They have unevenly distributed the world over. The availability of mineral resources provides the basis for industrial development.
- Climate: It influences the type of flora and fauna that can survive in a given region. It also ensures diversity in the range of various products, e.g. wool production can take place in cold regions, bananas, rubber, and cocoa can grow in tropical regions.
RELATED QUESTIONS
In which of the following trade blocs, is India an associate member?
What is the basic function of the World Trade Organisation?
Why is it detrimental for a nation to have negative balance of payments?
How do nations gain from International Trade?
What is meant by barter system?
Which two countries were connected by the silk route?
Where are WTO headquarters?
Where are the headquarters of EU?
Where are the headquarters of OPEC?
Name the packet stations across the English Channel?
What was the initial form of trade in primitive society?
GATT was formed in ____________.
Which association is the largest single market in the world?
India is the member of which trading block?
Where is the headquarter of OPEC?
Which of the following is not a major trading partner of India ____________.
Deepest harbor for large vessels is ____________.
What does the Latin word 'Salarium' mean?
When was World Trade Organisation formed?
Which of the following is a determinant of trade?
The headquarters of WTO is at ______.
The headquarters of European Union is located at ______.
What is the main motive of OPEC countries?
The silk route had a length of ______ km connecting Rome and China.
Where is the Headquater of WTO located?
Match the following.
| List I (Organisation) |
List II (Established) |
| A. ASEAN | 1. 1995 |
| B. WTO | 2. 1967 |
| C. NAFTA | 3. 1994 |
Arrange the following organisations according to the year of their formation and choose the correct option.
- ASEAN
- EU
- WTO
- OPEC
I. The WTO however has been criticized and opposed by those who are worried about the effects of Free trade and economic globalization.
II. Free trade does not make ordinary people‟s lives more prosperous.
"Undertaking international trade is mutually beneficial to nations." Justify the statement.
Which of the followings is not a function of World Trade Organization (WTO)?
