Assertion (A): International standardization can reduce manufacturing and marketing costs through shared product designs and campaigns.
Reason (R): Some foreign markets require product adaptations to meet local preferences or legal requirements.
Choose the correct answer.
Both (A) and (R) are correct but (R) is not the correct explanation of (A)
Both statements are true, but R does not explain A. Standardization can save costs through scale and shared work; local adaptation requirements explain why full standardization may be impractical, not why it saves costs.
Important Questions from Theories of international trade - Teaching
Theory of international trade promotes
A. Increase in demand for exportable products
B. Rise in prices and volumes
C. Improvement in quality of products
D. Reduction in prices and increase in quality for consumers
Choose the correct answer from the options given below:
Out of the following, which are the IMF facilities available to member countries?
A. Extended Fund Facility (EFF)
B. Structural Adjustment Lending (SAL)
C. Compensatory Financing Facility (CFF)
D. Stand-by Arrangements (SBA)
Choose the correct answer from the options given below:
The theory suggesting that the patterns of international trade are determined by factor endowment rather than productivity was propounded by which one of the following?
Match the items of List - II with the items of List - I and select the code of correct matching. The items relate to International Trade Theories.
List – I
List – II
(a)
Comparative Cost Theory
(i)
Adam Smith
(b)
Opportunity Cost Theory
(ii)
Gottfried Haberler.
(c)
Factor Endowment Theory
(iii)
David Ricardo
(d)
Absolute Cost Theory
(iv)
Eli Heckscher and Bertil Ohlin.
Match List I with List II
List I
List II
A.
Supply side of International Trade I.
David Ricardo B.
Demand side of International Trade II.
Bastable and Alfred Marshall C.
Opportunity cost of International Trade III.
G. Haberler D.
Real cost theory of International Trade IV.
Alfred Marshall and Edgeworth Choose the correct answer from the options given below:
