9. Trade
Complete solutions to the Exercise. Maharashtra State Board (Balbharati), Grade 9 Geography.
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Exercise
- (A) Maharashtra and Punjab — Domestic / Internal trade
- (B) India and Japan — International / External trade
- (C) Lasalgaon and Pune — Local / Domestic trade
- (D) China and Canada — International / External trade
- (E) India and European Union — International / Multilateral trade
- (A) India buys crude oil from the Middle-East Asian countries. — Import
- (B) Wheat is sent to Asian countries from Canada. — Export
- (C) Japan sends machine parts to APEC countries. — Export
(A) India is a self-sufficient country.
Wrong.
Correct Statement: No country in the world, including India, is completely self-sufficient. India has to depend on other countries for various needs like crude oil and advanced technology.
(B) The place where there is excess production does not have demand for those products.
Wrong.
Correct Statement: The place where there is excess production provides the supply of the commodity to other regions that are facing a deficit according to the demand.
(C) International trade processes are easier than local trade.
Wrong.
Correct Statement: Carrying out trade at an international level is a much more complex and difficult process than domestic/local trade due to different currencies, laws, policies, and political relations.
(D) SAARC works towards economic development and enhancing the social and cultural harmony of the South-East Asian countries.
Wrong.
Correct Statement: SAARC works towards finding solutions to the common problems faced by countries in South Asia, not South-East Asia. (ASEAN works for South-East Asian countries).
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- (A) Srushti brought sugar from the grocery shop. — Retail trade
- (B) The traders from Surat bought cotton from the farmers of Maharashtra. — Wholesale trade / Domestic trade
- (C) Sameer has exported pomegranates from his farms to Australia. — International trade (Export)
- (D) Sadabhau bought 10 sacks of wheat and 5 sacks of rice from Market Yard for selling in his own shop. — Wholesale trade
(A) Create a flowchart showing the types of trade.
Flowchart indicating types of trade.
(B) Explain the difference in types of balances of trade.
The difference between the import and export values of a country in a specific period is called the balance of trade. There are three types:
- Unfavourable balance of trade: When the value of imports is more than the value of exports.
- Favourable balance of trade: When the value of exports is more than the value of imports.
- Balanced balance of trade: When the value of exports and imports is almost the same.
(C) State the objectives of WTO.
The objectives of the World Trade Organisation (WTO) are:
- To provide a platform for negotiations in international trade.
- To handle and resolve the differences related to trade between nations.
- To monitor the trade policies of member states.
- To provide technological assistance and training to developing countries.
(D) What is the difference between the OPEC and APEC in terms of their functions?
| OPEC (Organisation of Petroleum Exporting Countries) | APEC (Asia-Pacific Economic Cooperation) |
|---|---|
| Its primary function is to control the international trade and rates of crude oil. | Its primary function is to promote free trade and economic cooperation in the Asia-Pacific region. |
| It focuses strictly on maintaining consensus in oil exports and production rates among member states. | It focuses on broader regional technical cooperation and making funds available for the economic growth of its members. |
(E) Write the functions of the important trade organisations in Asia.
The important trade organisations active in Asia and their functions are:
- SAARC (South Asian Association for Regional Cooperation): Finding satisfactory solutions to common problems in South Asia, increasing social welfare, raising living standards, and removing regional unrest.
- ASEAN (Association of South-East Asian Nations): Expanding social and cultural harmony along with economic growth in South-East Asia, promoting regional peace, and promoting tax waivers for trade growth.
- APEC (Asia-Pacific Economic Cooperation): Promoting free trade, regional, and technical cooperation among members in the Asia-Pacific Ocean region.
- BRICS: Enhancing mutual economic cooperation and strengthening economic security among member nations (India and China are its major Asian members).
(F) What is the importance of marketing from farmers 'point of view'?
Marketing is highly important for farmers because:
- Appropriate presentation, cleaning, grading, and attractive packaging of agricultural products significantly increase their value in the eyes of consumers.
- Good marketing and advertising help agricultural products fetch a much higher price in supermarkets and malls.
- It increases the overall demand for their crops.
- It helps distribute the production systematically on a large scale, reaching a vast number of consumers beyond the local village markets.
Graph Instructions: Draw X-axis for Countries (China, India, Brazil, USA) and Y-axis for Value in Million U.S. Dollars. For each country, draw two bars side-by-side (one for Export, one for Import) using two different colours. Add an index showing which colour represents Export and which represents Import.
Comments on the balance of payments (Balance of Trade):
- China: The value of exports (2143 million) is greater than imports (1960 million). Therefore, China has a Favourable balance of trade.
- India: The value of imports (380 million) is greater than exports (272 million). Therefore, India has an Unfavourable balance of trade.
- Brazil: The value of imports (241 million) is greater than exports (190 million). Therefore, Brazil has an Unfavourable balance of trade.
- USA: The value of imports (2380 million) is significantly greater than exports (1510 million). Therefore, the USA has an Unfavourable balance of trade.