Trade - SS3 Geography Past Questions & Answers - page 1

1

What is the primary purpose of trade?

A

Promoting cultural exchange

 

B

Maximizing domestic production

 

C

Specialization and resource optimization

 

D

Reducing the variety of available products

CORRECT OPTION: c
2

Which type of trade involves the exchange of goods and services within a single country?

A

Import trade

B

National trade

C

International trade

D

Wholesale trade

CORRECT OPTION: b
3

In international trade, what happens when a country exports more than it imports?

A

Trade deficit

B

Balance of trade

C

Trade surplus

D

Trade equilibrium

CORRECT OPTION: c
4

What role does trade play in job creation?

A

It hinders job growth

B

It has no impact on job creation

C

It supports job creation in various sectors

D

It only creates jobs in the manufacturing sector

CORRECT OPTION: c
5

Which of the following is not a reason for trade?

A

Specialization

B

Resource disparities

C

Self-sufficiency

D

Economies of scale

CORRECT OPTION: c
6

How does trade promote cultural exchange?

A

By reducing economic growth

B

By isolating countries from each other

C

By encouraging people to interact with different cultures

D

By imposing trade barriers

CORRECT OPTION: c
7

What is the economic impact of trade on consumers?

A

It reduces access to products

B

It increases the cost of goods

C

It lowers living standards

D

It provides access to a wider range of affordable products

CORRECT OPTION: d
8

Which type of trade can lead to the exchange of technologies and know-how?

A

Import trade

B

Inter-industry trade

C

Intra-industry trade

D

International trade

CORRECT OPTION: d
9

How does trade diversify the sources of goods?

A

By reducing imports

B

By promoting self-sufficiency

C

By encouraging dependence on a single source

D

By sourcing products from multiple regions

CORRECT OPTION: d
10

In international trade, what is the term for the difference between a country's exports and imports?

A

Trade equilibrium

B

Trade imbalance

C

Balance of trade

D

Trade offset

CORRECT OPTION: c
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