Q.1 What is exchange rate ?
Ans. Exchange rates – They link national currencies
for purposes of international trade. There are
broadly two kinds of exchange rates: fixed
exchange rate and floating exchange rate
Fixed exchange rates – When exchange rates
are fixed and governments intervene to prevent
movements in them
Flexible or floating exchange rates – These rates
fluctuate depending on demand and supply of
currencies in foreign exchange markets, in
principle without interference by governments
Q.2 What is import Duty ?
Ans. When we buy goods from other countries of the world , the tax paid is called import duty.
this duty is paid in borders, ports of airports where we receive the goods
Q.3 What is Globalization ?
Ans. Globalization is the process of interaction and integration among people , companies and government worldwide. it has accelerated since 18th century due to advances in transportation
and communication technology
Q.4 What is MNC's ?
ans. Multinational corporations (MNCs) are large companies that operate in several countries at
the same time. The first MNCs were established in the 1920s.
Examples :. Apple , Amazon, Tesla etc
The
worldwide spread of MNCs was a notable feature of the 1950s and 1960s. This was partly because
high import tariffs imposed by different governments forced MNCs to locate their
manufacturing operations and become ‘domestic producers’ in as many countries as possible.
Q.5 The Bretton Woods conference ?
Ans. the United Nations Monetary and Financial Conference held in July 1944 at
Bretton Woods in New Hampshire, USA. The Bretton Woods conference established the International Monetary
Fund (IMF) to deal with external surpluses and deficits of its member
nations. The International Bank for Reconstruction and Development(popularly known as the World Bank) was set up to finance post-war reconstruction. The IMF and the World Bank are referred toas the Bretton Woods institutions or sometimes the Bretton Woods twins.
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