11th Principles of Economics MCQS
Factors of production are more mobile
In international trade
In both
In none
In the country
One of the following is invisible item of balance of payment
Private investment in foreign country
Expenditure of passengers traveling by air
Import of motor cars
Exports of cotton
In which of the following condition theory of international trade is presented
Perfect competition
Monopolistic competition
Monopoly
Duopoly
The trade that takes place between the individuals living in different areas of a country is called
International trade
Domestic trade
Regional Trade
Foreign trade
Because of devaluation of currency of a country, its exports
Increase
Remains constant
Decrease
Go on changing
Absolute advantage theory was presented by
Prof Walker
Adam Smith
Ricardo
Marshall
Foreign exchange is used in
Local trade
Regional trade
Domestic trade
International trade
One of the following is not disadvantage of international trade
Dependence on production of limited goods
Bitter pill for political freedom
Supply of goods injurious to health
Development of civilization & culture
According to classical theory of international trade, a country imports those goods from the other country which
Are standardised
Are durable
Are produced comparatively at high cost
Are not produced in that country
In case of international trade, trade restrictions are usually
Limited
None of three
Too much
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