International trade CA - 2 | Super Survey Maker

Consider the following statements:

1. Various tariff rates that are levied does not depend upon the kinds of products.

2. Absolute Quota is a limit on a quantity of a specific goods which is imported to the home country.

Which of the above are incorrect?

1 only

2 only

Both option a and option b

None of the above

Consider the following statements

a) Reason for implementing tariff is to protect national security

b) Reason for implementing tariff is to protect home industries Which of the following are correct

Only a

Only b

Only a and b

None of the above

Which one of the following is the type of quota under trade barriers?

Import

Absolute

Forecast

Combination

A )Selecting a customer broker during the import procedure is not a part of the process B )It is mandatory to Ensure clear terms with your supplier and have a supplier agreement

A) is true B) is false

A) is false B) is true

Both A) and B) is false

Both and A) and B) is true

What is the primary purpose of an import quota in international trade?

To regulate the quality of imported goods

To limit the quantity of specific imported goods

To determine the origin of imported goods

To facilitate smoother customs clearance processes

When a large country levies a tariff on imports

The world price falls.

Demanders of the good on the domestic market are hurt

Foreigners are hurt.

All of the above

Consider following statement

1.Quotas and certificate form a part of non -tariff barrier

2.Customs duty is an example of a tariff barrier. Which of the above are correct?

1 Only

2 only

Both 1 & 2

None of the above

Proper export packaging is only essential for fragile or delicate goods, not for all types of products.

True

False

The reason for the government to levy trade barriers is to protect the domestic industry from cheap labor abroad and to protect the infant industry.

True

False

I am a unique 10 digit alphanumeric code issued to import or export goods and services in India. My validity is permanent but it requires updating annually , so that I won't be deactivated. Who am I ?

Import and export code

Import code

Export code

GSTN

Assertion (A): The subject matter of life insurance is human life.
Reason(R): Marine insurance has the element of protection only.

On the basis of above Assertion and Reason choose the correct answer from the options given below.

Both Assertion and Reason are correct and the Reason is a correct explanation of the Assertion.

Both Assertion and Reason are correct but Reason is not a correct explanation of the Assertion.

The Assertion is correct but Reason is incorrect.

Both Assertion and Reason are incorrect.

Assertion (A):Tax on import is an example of a trade barrier.

Reason (R): It checks the free flow of goods and services into the domestic market.

Both (A) and (R) are true but (R) is not the correct explanation of (A)

(A )is correct but (R) is wrong

(A) is wrong but (R) is correct

Both (A) and (R) are true and (R) is the correct explanation of (A)

Assertion(A): Trade barrier is a restriction on the free international exchange of goods and services.

Restriction(R): Quotas are a way of restriction or quantity of goods to be imported or exported.

Both (A) and (R) are true and (R) is the correct explanation of (A)

Both (A) and (R) are true and (R) is not the correct explanation of (A)

(A) is true but (R) is false

(A) is false but (R) is true

International trade CA - 2

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