Q4 of 18 Page 204

Answer in 2 or 3 sentences:

What is meant by bilateral and multilateral trade?


Bilateral trade is exchange of commodities between two countries. Multilateral trade is between a numbers of countries.


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Industrial raw material are …………. Products.


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Switzerland is famous for ………………….. .


 4

Answer in 2 or 3 sentences:

What are two main categories of commodities that enter into the world trade?


 4

Answer in 2 or 3 sentences:

Why does trade occur?