International TradePYQ - May 2019 (Inter)Question 163 of 20
All Questions

Which is a tariff barrier?

Options

AQuota
BImport Duty
CEmbargo
DVoluntary Export Restraint
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Correct Answer

✅ Option b — Import Duty

All Options:

  • AQuota
  • BImport Duty
  • CEmbargo
  • DVoluntary Export Restraint

About This Chapter: International Trade

Paper

Paper 4: Business Economics

Weightage

10%

Key Topics

Theories, Trade Policy, Exchange Rates

This chapter explores trade between nations — why countries trade, the theories of Absolute and Comparative Advantage, Balance of Payments, Exchange Rate systems (Fixed vs Flexible), and India's trade policy including tariffs, quotas, and WTO rules.

View Official ICAI Syllabus

Exam Strategy Tip

Understand Comparative Advantage theory thoroughly — it's the foundation of international trade. Also focus on the Balance of Payments structure and what causes deficits.

More Questions from International Trade

Comparative Cost Advantage theory was given by:

Heckscher-Ohlin theory explains trade based on:

Anti-dumping duty is imposed when:

Devaluation of currency encourages:

WTO was established in:

Exchange rate determined by market forces is called:

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