Economics 1 Marks Each

The rate at which the currency of one country can be converted into the currency of another country is called Exchange Rate.

Direction of international trade means any country’s business relations with various regions of the World.

Business activity carried out beyond the boundary of the country is known as international trade or foreign trade.

In a country for a year total value and quantum of import and export of goods is the size of international trade.

The nature of foreign trade means factors affecting foreign trade of economy, policies and laws related to it, structure of trade, and relation of trade management with foreign trade.

The items of exports which dominated the total exports of a country for a long period of time and export items produced by the traditional industries of a country are called Traditional Exports.

Structure or types of the goods imported or exported is the nature of import export.

Nature of trade means such special features and aspects of trade of which gives it a unique identity from other activities.

There is inverse relation between exchange rate and the value of currency.

The currency for which the rate of exchange goes up the international value of that currency has goes down.

When the total of debit side is more than the total of credit side then the balance of payments is called deficit.

In the current time various produced and finished goods are exported highest in percentage from India.

When India became independent mainly tea, coffee, jute, raw metal and mineral were exported.

Imports of spare parts, know-how, intermediate goods, petrol, energy goods which are made in order to maintain and sustain the process of industrialization and development undertaken by developing countries are called maintenance imports.

Imports of goods like capital, technology etc. by a developing country to give a boost to its development process is called "Developmental Imports."

In India's foreign trade the largest share is of the Asian countries.

Every year in the Gujarat state ‘Vibrant Gujarat Summit' is organized.

The nature of foreign trade is challenging because in different countries climate, language, culture, customs, habit, selection etc. are different.

Labour is less progressive in foreign trade due to political and social causes.

Land is a means of production with least mobility.

The import of new things has increased in India owing to diversification of development in India.

Business activity carried out within the boundary of the country is called Business Activity.

Trade is a business activity/ vocational activity in which product, services, capital, technology, technical know how and information, innovation etc. are exchanged.