Advantages and disadvantages of foreign trade. - SS1 Commerce Past Questions and Answers - page 1
1
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Which of the following is an advantage of foreign trade?
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A
Increased market opportunities
B
Dependency on foreign sources
C
Trade imbalances
2
What does foreign trade contribute to in terms of economic growth and development?
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A
Increased unemployment
B
Reduced investment
C
Employment opportunities and revenue generation
3
What is one disadvantage of foreign trade?
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A
Equal distribution of benefits
B
Vulnerability to external factors
C
Reduced access to resources
4
How does foreign trade contribute to the exchange of knowledge and technology?
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A
By limiting innovation and technological advancements
B
By hindering productivity and competitiveness
C
By facilitating the exchange of knowledge and technology
5
What can trade imbalances lead to?
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A
Increased foreign exchange reserves
B
Economic stability
C
Challenges in maintaining a stable economy
6
Explain one advantage of foreign trade in your own words.
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7
Name one potential disadvantage of foreign trade.
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