Commerce · Class 12 Commerce
Ch 4International Trade — Class 12 Commerce, concept-first.
International trade refers to the exchange of goods and services across the borders of two or more countries. It arises because natural resources, climate, technology, and skills are not evenly distributed across nations, so no single country can produce every good it needs at the lowest possible cost.
Key concepts
Hover a concept to preview it and jump to its most relevant Q&A.
Meaning and Importance of International Trade
International trade is the exchange of goods and services across national borders, taking the form of export trade, import trade, or entrepot (re-export) trade.
Most relevant Q&A
- What is meant by international trade? State any two reasons why countries trade with each other.Free
- Distinguish between export trade, import trade and entrepot trade with suitable examples.Free
- What is International Trade ? Write various types of International trade.Preview
- Distinguish between Home Trade and Foreign Trade.Preview
- What is International Trade ? Various types of International Trade.Preview
Chapter contents
The NCERT structure, section by section. Open a section to see its questions, then read the concept-first solution.
Meaning and Importance of International Trade
International trade refers to the exchange of goods and services across the borders of two or more countries.
Export Trade Procedure and Documents
Executing an export order is a multi-step process because the goods, the money, and the documents all have to move correctly across two different countries' legal and banking systems.
Import Trade Procedure and Documents
Import trade procedure mirrors export procedure from the other side of the transaction, but the sequence of steps and the documents examined most closely are different, because it is now the Indian bu…
Balance of Trade and Balance of Payments
Two related but distinct ideas describe a country's trading position with the rest of the world: the Balance of Trade (BOT) and the Balance of Payments (BOP).
World Trade Organisation (WTO)
The World Trade Organisation (WTO) is the principal international body governing rules of trade between nations.
Exercises
+−Show 10 questionsHide questions10 questions
- Q1What is meant by international trade? State any two reasons why countries trade with each other.Free
- Q2Distinguish between export trade, import trade and entrepot trade with suitable examples.Free
- Q3Explain briefly the important documents used in export trade.Free
- Q4Describe the procedure followed by an exporter in executing an export order.Preview
- Q5What is a Bill of Entry? Mention its types.Preview
- Q6Explain the important steps involved in the import trade procedure.Preview
- Q7Distinguish between Balance of Trade and Balance of Payments.Preview
- Q9What is meant by 'invisible items' in the Balance of Payments? Give two examples.Preview
- Q10What is the World Trade Organisation (WTO)? State any three of its objectives.Preview
- Q11Explain the functions of the World Trade Organisation.Preview
Sample & Board Papers
Sample papers and previous-year board questions for this subject.
+−Show 8 questionsHide questions8 questions
- Q1What is International Trade ? Write various types of International trade.Preview
- Q2Distinguish between Home Trade and Foreign Trade.Preview
- Q3What is International Trade ? Various types of International Trade.Preview
- Q4What is SEZ ? Explain their objectives.Preview
- Q5What is International Trade ? Explain various types of International Trade.Preview
- Q6Write a short note on: Entrepot Trade.Preview
- Q7What is International Trade ? Various types of International Trade.Preview
- Q8What is SEZ ? Explain their objectives.Preview