The 'Incoterms' in international trade are published by: MCQ with Answer and Explanation

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The 'Incoterms' in international trade are published by:

A. IMF

B. WTO

C. World Bank

D. International Chamber of Commerce

Answer: Option D

Solution (By JKSSB Mock Tests)

Incoterms are published by the International Chamber of Commerce.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

Which of the following is a characteristic of a traditional economy?

A. Rapid industrialisation

B. Customs and traditions determine economic decisions

C. Extensive use of money and banking

D. High use of advanced technology

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Correct Answer: Option B

Explanation:
In a traditional economy, economic decisions regarding production and distribution are based on customs, traditions and hereditary practices.

This question belongs to: Economy GK Economy Set 1

Question #2

The value of the investment multiplier is equal to:

A. 1 divided by MPS

B. MPS divided by MPC

C. 1 divided by MPC

D. MPC divided by MPS

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Correct Answer: Option A

Explanation:
The investment multiplier is 1/MPS, or 1/(1 - MPC).

This question belongs to: Economy GK Economy Set 1

Question #3

The soft loan window of the World Bank is:

A. IBRD

B. IFC

C. MIGA

D. IDA

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Correct Answer: Option D

Explanation:
The International Development Association is the World Bank's soft loan window.

This question belongs to: Economy GK Economy Set 1

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