Trade between two countries is known as ____ trade

(a)

External

(b)

Internal

(c)

Inter-regional

(d)

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Which of the following factors influence trade?

(a)

The stage of development of a product

(b)

The relative price of factors of productions.

(c)

Government.

(d)

All of the above.

International trade differs from domestic trade because of

(a)

Trade restrictions

(b)

Immobility of factors

(c)

Different government policies

(d)

All the above

In general, a primary reason why nations conduct international trade is because

(a)

Some nations prefer to produce one thing while others produce another

(b)

Resources are not equally distributed among all trading nations

(c)

Trade enhances opportunities to accumulate profits

(d)

Interest rates are not identical in all trading nations

Exchange rate for currencies is determined by supply a!ld demand under the-system of

(a)

Fixed exchange rate

(b)

Flexible exchange rate

(c)

Constant

(d)

Government regulated