Identify the correct statements about International Trade.

(A) Volume, sectoral composition and direction are important aspects of International Trade.
(B) Volume of trade is considered in value terms instead of tonnage.
(C) During the first half of 20th century, primary products dominated international trade.
(D) During European colonialism slave trade was replaced by barter trade.

Choose the correct answer from the options given below:

(A), (B) and (C) only

The correct answer is Option (3) → (A), (B) and (C) only

(A) Volume, sectoral composition and direction are important aspects of International Trade. Correct. These three are the key parameters used to analyze international trade patterns.

(B) Volume of trade is considered in value terms instead of tonnage. Correct. Trade is usually measured in terms of monetary value (US dollars, etc.) rather than by weight or volume.

(C) During the first half of 20th century, primary products dominated international trade. Correct. Before the rise of industrialization and globalization, international trade was dominated by primary goods like agricultural products, raw materials, and minerals.

(D) During European colonialism slave trade was replaced by barter trade. Incorrect. During European colonialism, slave trade continued and was a major part of international trade. Barter trade did not replace it.

Note: This question is from old prerationalised textbook of NCERT.