Question # 1

Policy of Protecton in trade

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Facilitates trade

Protects local producers

Protects foreign producers

Protects exporters

Foregn trade creates among countries.

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Conficits

Cooperation

Hatred

None

All are advantages of oreign trade Except.

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People get foreign exchange

Difference in politicla system

Difference in markets

Difference in ideology

Theory of omparative advantages was presented.

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Ricardo

Adam Smith

Hicks

Arshad

Pakistan Importss some goods and exports other goods primarily because of.

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Free goods

Comparative advantage

Unemployment

Self Sufficiency

Trade between two countries can be useful if cost ratios of goods are.

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Equal

Different

Undertimed

Decreasing

Govt policy about exports and imports is called.

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Monetary policy

Fiscal policy

Commercial Policy

Finance policy

Foreign Trade are

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Benefits developed countries

Benefits underdeveloped countires

Benefits all countries

Benefits democretive countries

Two countries can gain from foreign trade if

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Cost ratios are differnet

Traiff rates are different

Price ratios are different

a and c above

International trade and domestic trade fiffer because of.

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Trade restrictions

Immobility of factors

Difference govt Policy

All of the above

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Icom Part 2 Principles of Economics Chapter 7 English Medium Online Test MCQs With Answers

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