Match List-I with List-II
| List-I | List-II | ||
| (Aspects of International Trade) | (Characteristics) | ||
| (A) | Multi-lateral Trade | (I) | Trade is done by two countries with each other |
| (B) | Volume of Trade | (II) | The nature of goods and services imported and exported by countries |
| (C) | Composition of Trade | (III) | Trade is conducted with many trading countries |
| (D) | Bilateral Trade | (IV) | The total value of goods and services traded |
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → (A)-(III), (B)-(IV), (C)-(II), (D)-(I)
(A) Multi-lateral Trade — this matches (III) Trade is conducted with many trading countries. “Multi” means many. One country trades with a number of other countries.
(B) Volume of Trade — this matches (IV) The total value of goods and services traded. Services cannot be weighed in tonnes, so the volume is measured as the total value traded.
(C) Composition of Trade — this matches (II) The nature of goods and services imported and exported by countries. It tells what kind of goods are traded, such as primary products or manufactured goods.
(D) Bilateral Trade — this matches (I) Trade is done by two countries with each other. The two countries agree to trade specified goods with each other.
Note: Items (B) and (C) are taken from the pre-rationalised NCERT book. The latest edition (2026-27) does not have this part. An extract of the pre-rationalised NCERT book is given below for the benefit of students.
NCERT (2026-27): “(a) Bilateral trade: Bilateral trade is done by two countries with each other. They enter into agreement to trade specified commodities amongst them.” “(b) Multi-lateral trade: As the term suggests multi-lateral trade is conducted with many trading countries. The same country can trade with a number of other countries.”
Pre-rationalised NCERT: “Volume of Trade … The actual tonnage of goods traded makes up the volume. However, services traded cannot be measured in tonnage. Therefore, the total value of goods and services traded is considered to be the volume of trade.” “Composition of Trade … The nature of goods and services imported and exported by countries have undergone changes during the last century.” |