indian industries & trade section 7 MCQ Questions & Answers Detailed Explanation

Answer: (c)

Answer: (c)

Non-tariff barriers to trade (NTBs) are trade barriers that restrict imports but are not in the usual form of a tariff. Some common examples of NTB’s are anti-dumping measures and countervailing duties, which, although they are called "non-tariff" barriers, have the effect of tariffs once they are enacted. Their use has risen sharply after the WTO rules led to a very significant reduction in tariff use.

Some non-tariff trade barriers are expressly permitted in very limited circumstances when they are deemed necessary to protect the health, safety, or sanitation, or to protect depletable natural resources.

Types of non-tariff barriers to trade include specific limitations on trade:

1. quotas,
2. import licensing requirements;
3. Proportion restrictions of foreign to domestic goods (local content requirements);
4. Minimum import price limits; and embargoes.

An import quota is a limit on the quantity of a good that can be produced abroad and sold domestically. It is a type of protectionist trade restriction that sets a physical limit on the quantity of a good that can be imported into a country in a given period of time.

If a quota is put on a good, less of it is imported.

Answer: (a)

Answer: (a)

Answer: (c)

Vishakhapatanam is the deepest landlocked port in India.

Answer: (b)

Limestone, as used by the minerals industry, is any rock composed mostly of calcium carbonate (CaCO3 ). Limestone is used to produce Portland cement, as aggregate in concrete and asphalt, and in an enormous array of other products, making it a truly versatile commodity. Portland cement is essential to the building industry.