10.

11.

12.

Tariffs are :
(a) Taxes imposed on imports.
(b) Taxes imposed on the consumption of domestic goods.
(c) Taxes imposed on the consumption of imported services.
(d) Taxes imposed on the consumption of domestic services.
WTO came into existence in :
(a) 1991. (b) 1995.
(6) 2001. (d) 2005.

. A tax on imports that is stipulated as a money amount per unit is :

(a) A Specific Tariff. (b) An Optimum Tariff.
(€) An Advalorem Tariff. (d) An effective Tariff.

. Which of the following form of economic integration describes the most highest form :

(a) Common market. — (b) Free trade area.
(c) Customs union. (d) Economic union.
The Heckscher-Ohlin theory deals with which type of trade :
(a) Inter industry trade. (b) Trade based on economies of scale.
(c) Intra industry trade. (d) Trade based on product cycles.
To promote a favourable trade balance, Mercantilists advocated :
(a) Closed economy. (b) Laissez faire economy.
(c) Market economy. (d) Government regulation of trade.

A commercial policy designed to increase exports by an additional sum above the domestic price
per unit exported is known as :

(a) Grants in aid. (b) Tax concession.
(c) Targeting. (d) Export Subsidy.
(12 x % = 6 marks)