International Trade
Jharkhand Board · Class 12 · Geography
Most important questions from International Trade for Jharkhand Board Class 12 Geography board exam 2026. MCQs, short answer, and long answer questions with marks.
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Which of the following are reasons why countries engage in international trade?
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To obtain commodities they cannot produce themselves, To purchase goods at lower prices, To achieve specialization benefits
Countries trade to obtain goods they cannot produce, buy at lower costs, and benefit from specialization. Avoiding foreign contact and reducing cooperation are opposite to trade purposes.
WTO stands for World Trade Organization.
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True
WTO indeed stands for World Trade Organization, which was established in 1995 to promote free and fair trade among nations and resolve trade disputes.
Which factors form the basis of international trade?
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Difference in national resources, Population factors, Stage of economic development, Transport facilities
International trade is based on differences in resources, population characteristics, economic development stages, and transport. Identical climate would reduce trade needs.
Arrange these trade developments in chronological order: Industrial Revolution, Barter System, WTO formation, Silk Route
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Barter System
The correct chronological order is: Barter System (primitive times), Silk Route (ancient times), Industrial Revolution (18th-19th century), WTO formation (1995).
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