Enjoying comparative advantage for a country means having a . . . . . . . . opportunity cost of domestically producing a commodity than the other country.

Which of the following is the most well established and conventional form of operating in foreign market?

A. Importing

B. Exporting

C. Franchising

D. Joint Ventur

Foreign trade helps each country to make . . . . . . . . use of its natural resources.

A. optimal

B. loss

C. better

D. none of these

The effects of foreign trade on the domestic economy maybe at

A. Micro level

B. Macro level

C. Both A and B

D. Neither A nor B

As per the Foreign Trade (Development and Regulation) Act, 1992, who advises the Central Government in the formulation of Export and Import Policy?

A. Chief controller of Imports and Exports

B. Director General of Foreign Trade

C. Director General of Commercial Intelligence

D. Chief Controller of Foreign Trade