Why is it necessary to insure goods in international trades? – InterviewSolution

InterviewSolution

1.	Why is it necessary to insure goods in international trades?
Answer» International trade poses various risks to the good. Moreover the goods are mainly transported through sea which is quite risky. Hence to protect the goods from damage due to humid atmosphere of sea, sinking of sea, attacks of pirates, etc. goods must be insured.

Discussion

No Comment Found

Related InterviewSolutions

Why is it necessary to insure goods in international trades?
Why are trade agreements signed between nations?
Define foreign trade and explain its meaning.
In which year did India underwent major economic reforms?(A) 1991(B) 1995(C) 2001(D) 2005
State the definition of foreign trade given by Thomas.
Who makes international trade agreements?(A) Politicians(B) Businessman(C) Industrialists(D) Custom and excise departments
Which of the following is not a feature of international trade?(A) Maximum utilization of resources(B) High standard of living(C) Divisions of labour and specialization(D) Lesser taxes and duties
The benefits of international trade lures a country so much that it cannot resist jumping into it. Give reason.
Benefit of distribution of labour and specialization is achieved due to ________(A) Unequal distribution of natural resources(B) Less development of nations(C) Economic and political policies(D) Both (A) and (C)
In which of the following places, SEZ is not present?(A) Dahej(B) Falta(C) Cochin(D) Banswada