International TradeMTP - June 2023 (Inter)Question 180 of 20
All Questions

Balance of Trade refers to:

Options

AExport - Import of Goods
BExport - Import of Services
CBalance of Payment
DCapital Account
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Correct Answer

✅ Option a — Export - Import of Goods

All Options:

  • AExport - Import of Goods
  • BExport - Import of Services
  • CBalance of Payment
  • DCapital Account

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:

Which is a tariff barrier?

Anti-dumping duty is imposed when:

Devaluation of currency encourages:

WTO was established in:

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