Q2 of 9 Page 89

Answer the following questions in about 30 words.

What benefits do nations get by forming trading blocs?


Following benefits do nations get by forming trading blocs-


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2 A

Answer the following questions in about 30 words.

What is the basic function of the World Trade Organisation?


 2

Answer the following questions in about 30 words.

Why is it detrimental for a nation to have a negative balance of payments?


 3

Answer the following questions in not more than 150 words.

How are ports helpful for trade? Give classification of ports on the basis of their location.


 3

Answer the following questions in not more than 150 words.

How do nations gain from International Trade?