Match List I with List II

Choose the correct answer from the options given below:

(A)-(III), (B)-(IV), (C)-(II), (D)-(I)

The correct answer is Option (2) → (A)-(III), (B)-(IV), (C)-(II), (D)-(I)

A. Multilateral Trade-(III): Trade is conducted with many trading countries.
Multilateral trade involves transactions between more than two countries. This often occurs within the framework of international agreements and organizations where multiple nations engage in trade relationships, fostering economic cooperation and interdependence.

B. Volume of Trade (IV): The total value of goods and services traded.
The volume of trade refers to the total quantity and value of goods and services exchanged between countries. It is a crucial indicator of the economic relationships between nations and is often used to assess the economic health and competitiveness of countries.

C. Composition of Trade (II): The nature of goods and services imported and exported by countries. Composition of trade refers to the types of goods and services that a country imports and exports. It provides insights into the specialization and comparative advantage of nations in certain industries or sectors, influencing trade patterns and economic development.

D. Bilateral Trade (I): Trade is done by two countries with each other. 
Bilateral trade involves the exchange of goods and services between two countries. This type of trade agreement or relationship is negotiated directly between the two nations and can vary in terms of the scope and depth of the trade partnership.