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National Institute of Business Management
Chennai – 020
FOURTH SEMESTER MBA
Subject : International Trade Management
Attend any 4 questions. Each question carries 25 marks
(Each answer should be of minimum 2 pages / of 300 words)
- 1. Why Incoterms 2000 is needed?
Answer: The Incoterms rules or International Commercial Terms are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC). They are widely used in International commercial transactions or procurement processes. A series of three-letter trade terms related to common contractual sales practices, the Incoterms rules are intended primarily to clearly communicate the tasks, costs, and risks associated with the transportation and delivery of goods. The Incoterms rules are
- 2. Stipulate the duties and responsibilities in a contract agreement between a seller and buyer w.r.t, cost, Insurance and Freight for International Trade.
Answer:
- 3. Explain the distinguishing features of foreign trade from domestic trade.
Answer: Foreign trade is nothing but trade between the different countries of the world. It is also called as International trade, External trade or Inter-Regional trade. It consists of imports, exports and entrepot. The inflow of goods in a country is called import trade whereas outflow of goods from a country is called export trade. Many times goods are imported for the purpose of re-export after some processing
- 4. Write an essay on International Monetary Fund.
Answer: The International Monetary Fund (IMF) is an international organization headquartered in Washington, D.C., in the United States, of 188 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. Formed in 1944 at the Bretton Woods Conference, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international
- 5. What is Foreign Trade policy and what is its impact on Foreign Trade? Explain.
Answer: All exports and import-related activities are governed by the Foreign Trade Policy (FTP), which is mainly aimed at enhancing the country’s exports and use trade expansion as an effective instrument of economic growth and employment generation.
As part of the FTP strategy of market
- 6. Explain Foreign Exchange mechanism and Foreign Exchange Risk Management.
Answer:
25 x 4=100 marks
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