Advertisements
Advertisements
Question
Which of the following is NOT true about foreign trade during the colonial rule?
Options
India suffered from a large trade deficit.
Restrictive policies of commodity production, were followed.
Britain maintained a monopoly control over lndia's exports and imports.
India became an exporter of primary products and an importer of finished consumer goods.
Solution
India suffered from a large trade deficit.
Explanation:
India had a significant trade surplus under British administration, meaning that exports exceeded imports. India was supplying Britain with vast quantities of raw materials and basic goods while importing only a modest amount of machine made goods.
APPEARS IN
RELATED QUESTIONS
Explain the meaning of Entrepot trade.
Give two examples of Entrepot trade.
What do you mean by Export trade?
The opening of Suez Canal served as a direct route for ships operating between ______.
Which of the following points indicate the volume and direction of trade at the time of independence?
______ is a term that describes the changing balance of output, trade, incomes, and employment drawn from different economic sectors.
Why are tariffs imposed?
Match the following:
| 1 | The sale of 51 % or more stake of a PSU to the private sector who bids the highest. | A | Minority Sale |
| 2 | Sale refers to the sale of less than 49% stake of a the PSU to private sector. | B | Strategic Sale |
| 3 | It is a trade agreement between two countries | C | Devaluation of Rupee |
| 4 | It refers to the fall in the value of rupee in terms of foreign currency | D | Bilateral Trade |
______ is engaged in the export and import (external trade) of goods and services.
The domestic country may sell goods to the rest of the world. These are called ______
An account that records the trading of foreign assets and liabilities during the year by a country is known as ______
______ is the difference between the values of exports and imports of goods, services, and unilateral transfers of a country.
Identify the correctly matched pair of Column A to that of Column B:
| Column A | Column B |
| 1. Foreign Trade | (a) Export Processing Zone |
| 2. Adverse Balance of Trade | (b) Problem of India's Foreign Trade |
| 3. Import Substitution | (c) Benefits to participating countries |
| 4. Export Promotion | (d) Scarcity of Foreign Trade |
Identify the correct matched-pair from Column A to Column B:
| Column A | Column B | ||
| (1) | Import of Petroleum from Iran | (a) | Debit side of Current Account |
| (2) | BPO services provided by India to USA | (b) | Credit Side of Capital Account |
| (3) | Investment by Saudi Aramco in RIL | (c) | Debit Side of Capital Account |
| (4) | Export of Spices to Greece | (d) | Debit Side of Current Account |
Which of the following statements is true?
______ are recorded as negative (debit) items.
Identify the correct sequence of alternatives given in Column B by matching them with respective Column A:
| Column A | Column B | ||
| (1) | Borrowings from IMF | (a) | Current Account |
| (2) | Import of shipping services | (b) | Invisible items |
| (3) | Export of machinery | (c) | Accommodating items |
| (4) | Foreign aid | (d) | Visible items |
After independence, India had favourable Balance of 'Ifade situations for:
Foreign embassies in India are a part of India's:
Identify, which of the following indicates the adverse impact of British rule in India.
