Match the following.
| List-I (Theories of International Trade) | List-II (Features) |
| a. Theory of mercantilism | 1. It is developed by John Stuart Mill |
| b. Theory of absolute advantage | 2. What each country will export and what it will import is determined by comparative differences in labour costs |
| c. Theory of comparative cost | 3. It refers to the ability of a country to produce a good more |
| d. Theory of reciprocal demand | 4. It attributes and measures the wealth of a nation by the size of its accumulated treasures |
A. a-4, b-3, c-2, d-1
B. a-3, b-1, c-4, d-2
C. a-1, b-4, c-2, d-3
D. a-1, b-2, c-3, d-4
Answer: Option A
This Question Belongs to Management >> Foreign Trade Policy
Related Questions on Foreign Trade Policy
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
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
Join The Discussion