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56. Assertion (A). Indent may be open or closed open indent does not specify the Price and other details of the good, the closed indent specifies the brand, price, number, packing shipping mode, insurance, etc. Reason (R). This is required as a part of export procedures.
Both (A) and (R) are correct.
Both (A) and (R) are not correct.
(A) is true, but (R) is false
(R) is true, but (A) is false.
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57. Assertion (A). International businesses focus on global resources, opportunities to buy/sell worldwide. Reason (R). The efforts of IMF, World Bank and WTO to liberalize their economics led to globalization.
Both (A) and (R) are true.
Both (A) and (R) are false
(A) is false, but (R) is true.
58. According to the theory of each country should concentrate on the production of these goods for which it is best suited.
Comparative cost
Fixed cost
Variable cost
Average cost
59. Which of the following organizations promotes trade?
ECG
MMTC
STC
All of the above
60. Bill of lading is issued by
Indian commercial banks
Foreign banks
Shipping company
Exporters
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