List of top Economics Questions on International Trade asked in CBSE CLASS XII

"Import substitution policy, if not applied carefully, can be a double-edged sword for any economy."
Do you agree with the given statement? Justify your answer with valid arguments.

State how multilateral trade is different from bilateral trade.

Distinguish between Tariffs and Quotas.

“Import substitution policy, if not applied carefully, can prove to be a double-edged sword for any economy.” Do you agree with the given statement? Justify your answer with valid arguments.