Geography ch 9 - Trade Social Studies - Geography ch 9 - Trade

(1) India buys crude oil from the Middle-East Asian countries.
(2) Wheat is sent to Asian countries from Canada.
(3) Japan sends machine parts to APEC countries.

 International trade processes are easier than local trade.

 The place where there is excess production does not have demand for those products.

India is a self-sufficient country.

What will happen if there is only one currency used in the whole world?

With a lot of hard work Dhondiba used to grow best varieties of vegetables and other agricultural commodities. But his products could not fetch a good price. His college-going son, saw this situation and he first packed the commodities nicely after cleaning them neatly. Then he contacted the supermarket in the town. Looking at the quality of his product, they advertised the farm product and kept it for sale in the mall. Today, Dhondiba’s commodities are being sold for higher prices than before.
1.Why did Dhondiba’s commodities start getting higher prices?
2.What did Dhondiba’s son do for that?
3.What measures would you suggest to the farmers near you so that then commodities can fetch a good price?

International Trade Organisations : Carrying out trade at an international level is a more complex process than domestic trade. Trade takes place between two or more nations. Factors like the economy of the country, government policies, markets, laws, judicial system, currency, language, etc. influence the trade. The political relations between the two countries also influences the trade between them. Sometimes, the obstacles in the way of trading affect the mutual relationship adversely. To avoid this, international economic and trade organisations came up. To smoothen and justify the process of trade between countries of different economic standing, some international economic organisations were formed. These organisations work towards the facilitation and growth of international trade. The details of a few organisations have been given here in the following table.

1.Which of these is an easier way of doing trade?
2.Which trade can bring some limitations?
3.Look for reasons behind them

………………….. trade means the exchange of goods and services of one country with other countries.

………………….. was formed to establish an integrated market2 in member nations in Europe.

BRICS stands for …………………. .

………………….. was formed to control the international trade of crude oil.

When the value of imports is more than the value of exports it is called ………………….. balance of trade.

What is the importance of marketing from farmers ‘point of view’?

 Write the functions of the important trade organisations in Asia.

What is the difference between the OPEC and APEC in terms of their functions?

 State the objectives of WTO.

Explain the difference in types of balances of trade.

The Consumer Protection Act been enacted

Some international economic organisations were set up