Q1 of 9 Page 89

Choose the right answer from the four alternatives given below.

In which of the following trade blocs, is India an associate member?


India is a member of ASEAN in 1992.

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1

Choose the right answer from the four alternatives given below.

Which one of the following continents has the maximum flow of global trade?


 1 C

Choose the right answer from the four alternatives given below.

Which one of the following South American nations, is a part of OPEC?


 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?