Tamil Nadu Board 11th Standard Commerce - Chapter 27: Book Back Answers and Solutions
This post covers the book back answers and solutions for Chapter 27 – Commerce from the Tamil Nadu State Board 11th Standard Commerce textbook. These detailed answers have been carefully prepared by our expert teachers at KalviTips.com.
We have explained each answer in a simple, easy-to-understand format, highlighting important points step by step under the relevant subtopics. Students are advised to read and memorize these subtopics thoroughly. Once you understand the main concepts, you’ll be able to connect other related points with real-life examples and confidently present them in your tests and exams.
By going through this material, you’ll gain a strong understanding of Commerce Chapter 27 along with the corresponding book back questions and answers (PDF format).
Question Types Covered:
- 1 Mark Questions: Choose the correct answer, Fill in the blanks, Identify the correct statement, Match the following
- 2 Mark Questions: Answer briefly
- 3, 4, and 5 Mark Questions: Answer in detail
All answers are presented in a clear and student-friendly manner, focusing on key points to help you score full marks.
All the best, Class 11 students! Prepare well and aim for top scores. Thank you!
Chapter 27: FACILITATORS OF
INTERNATIONAL BUSINESS
I. Choose the correct answer
1. General Agreement on Tariff and Trade was signed on
a. 30-October-1947
b. 29-October-1947
c. 28-October-1947
d. 26-October-1947
Answer Key:
a. 30-October-1947
2. WTO was estabilished on
a. 1-1-1996
b. 1-1-1997
c. 1-1-1995
d. 1-1-1994
Answer Key:
c. 1-1-1995
3. The headquarter of WTO is located at
a. New York
b. London
c. Geneva
d. Brazil
Answer Key:
c. Geneva
4. The day to day administration of WTO is entrusted with
a. Executive Council
b. General Council
c. Administrative Council
d. General Body
Answer Key:
b. General Council
5. World bank is located at
a. Washington DC
b. New York
c. Tokyo
d. Hongkong
Answer Key:
a. Washington DC
II. Very Short answer questions
1. What is WTO? - The World Trade Organisation (WTO) was estabilished on 1st January 1995.
- The GATT was renamed as WTO with some changes.
- WTO has 164 member countries as on 29th July 2016 .
- India is one of the three founder members.
2. What do you mean by World Bank?
- International Bank for Reconstruction and Development is commonly known as World Bank.
- It was set up in 1944 in order to reconstruct and rehabilitate first world war affected countries of Europe and assist in the development of developing countries.
3. What is Special Drawing Rights?
- SDR was created by the IMF in the year 1969 as supplementary international reserve asset.
- It is described as paper gold.
III. Short answer questions
1. Write any three objectives of IMF. - Promoting international monetary cooperation.
- Ensuring balanced international trade.
- Ensuring exchange rate stability.
2. Mention the functions of SAARC. (any 3)
- Determining inter-sectoral priorities.
- Mobilizing cooperation within and outside the region.
- Dealing with modalities of financing.
3. Write any three benefits of WTO.
- It settles the trade disputes amicably among the member countries.
- WTO has removed quantitative restrictions and non-tariff barriers.
- WTO organizes periodical regional and international conference
IV. Long answer questions
1. Point out the objectives of WTO. (any 5) - Improving the standard of living of people in member countries.
- Making optimum utilization of world’s resources for sustainable development of member countries.
- Promoting an integrated more viable and durable trading system in the sphere of international business.
- Expansion of trade in goods and Services.
- Protecting the environment.
2. Write down the functions of IMF. (any 5)
- It acts as short term credit institution at the international level.
- It provides machinery for ordinary adjustments of exchange rates.
- It promotes economic stability and global growth by encouraging countries adopt sound economic and financial policies.
- It offers technical assistance and training to help member countries strengthen and implement effective policies.
- It helps member countries correct their imbalance in balance of payment.
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