International Business - International Business Objective Questions

26:  
If a country differs from rest of the world in taste patterns but not in production capabilities, trade will lead to some international specialization in
A.

Production

B.

Consumption

C.

Productivity

D.

Techniques of production

 
 

Option: B

Explanation :

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27:  
Factor-price equalisation theorem states that under certain assumptions.
A.
Free trade equalises cost of production between nations
B.
Cost of trade equals factor prices between countries
C.
Free trade equalises not only commodity prices but also factor prices.
D.

None of the above.

 
 

Option: C

Explanation :

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28:  

GATT prescribes export subsidies as

A.

Competition

B.

Unfair competition

C.

Monopolistic competition

D.

Exploitation

 
 

Option: B

Explanation :

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29:  

Producer surplus is

A.
Net gain in producer revenue minus cost
B.

Net profit after payment of taxes

C.

The reciprocal of consumer surplus

D.
The surplus value of labour kept with the producer.
 
 

Option: A

Explanation :

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30:  
Match List-I with List-II and select the correct answer using the codes given below the lists:

     List-I               

 List-II

a. Common market

I. OPEC

b. Cartel

II. EC

c. Free-trade area

III.EFTA

d. Customs union

IV.EEC

 

A.

a   b   c   d

 I   II   III   IV

B.

a   b   c   d

IV  III   II   I

C.

a   b   c   d

II    I   III   IV

D.

a   b   c   d

 I   II   IV   III

 
 

Option: C

Explanation :

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