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Revision Notes
External Trade — Revision Notes
Telangana Open School (TOSS) · Class 12 · Business Studies
External Trade revision notes for Telangana Open School (TOSS) Class 12 Business Studies: 4 topics in quick points.
45 questions30 flashcards5 concepts
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Key Topics to Revise
1
Meaning and Types of External Trade
- External trade involves buying and selling of goods and services across national boundaries.
- It is also called foreign trade or international trade.
- Three main types: Import Trade, Export Trade, and Entrepot Trade.
2
Importance of External Trade
- Promotes specialization in production based on resource availability and technology.
- Improves standard of living by providing access to a wider variety of goods.
- Enhances competition, leading to better quality and lower prices.
3
Challenges in External Trade
- Geographical distance increases time and cost of transportation.
- Higher risks during transit due to weather, piracy, or accidents.
- Difficulties in transport and communication, especially for remote areas.
4
Facilitators of External Trade
- Indent Houses help in sending and receiving trade orders.
- Export Houses promote exports through government bodies like STC, MMTC.
- Forwarding Agents handle export formalities on behalf of exporters.
Get complete notes with diagrams and examples
Full NotesKey Concepts
The buying and selling of goodsThere are three main typesExternal trade promotes specializationTraders face difficulties such as geographicalExport involves steps like receiving inquiry
Frequently Asked Questions
What are the important topics in External Trade for Telangana Open School (TOSS) Class 12 Business Studies?
Key topics in External Trade include Meaning and Types of External Trade, Importance of External Trade, Challenges in External Trade, Facilitators of External Trade. Study these first, then practise questions on each for the Telangana Open School (TOSS) Class 12 board exam.
How should I revise External Trade for the Telangana Open School (TOSS) Class 12 board exam?
Learn the core ideas first, then work through the 45 practice questions on External Trade. Revise definitions regularly and use flashcards for quick recall before the exam.
Sources & Official References
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
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