Worksheet.

Subject: Economics (XII)

Topic: India’s foreign trade

I) Very Short answer type Questions.

1) Types of goods and services we export, and import is called
a) Composition of trade
b) Direction of trade
c) Balance of trade
d) None of these.
2) The countries to which a country exports its goods and services and the countries from
which it imports is called
a) Composition of trade
b) Direction of trade
c) Balance of trade
d) None of these.
3) Define international trade
4) What do you mean by ‘gains of trade’?
5) What is volume of trade?

11) Short answer type Questions

1) Describe the recent changes in the direction of India’s exports and imports.
2) After independence, percentage rise in our exports has been significant, even when the
volume of exports continuous to be low.
3) How significant is foreign trade in the context of growth and development of an
underdeveloped economy like India?

11I) Long answer type Questions

1) Explain the volume of India’s foreign trade after independence.
2) Briefly analyze the major changes in the composition of India’s foreign trade since
independence.
3) Evaluate Inward Looking Trade Policy of the government during 1950-1990.