AP SET Exam 2018 Solved Paper
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Question Numbers: 16-20
Direction: Read the passage carefully and answer the questions by choosing the correct answer from the four given alternatives.
In contrast to local market manufacturing for export industries, it is more difficult to get the government support. However, export companies offer very great advantages to an economy and therefore, deserve the highest importance in industrial development programmes. To survive, industries must be efficient and deliver products that compare favorably in quality with products of other countries because they are continually exposed to world competition. Foreign exchange currency earned from exports can be used to import other products that could only be made in the developing country at excessive cost. Another great advantage of manufacturing for export is that the world offers a tremendous market for almost any type of production that is competitive in price and quality. This creates an opportunity to build industries that are usually much larger than could be justified for the local market alone. The cost savings that are derived in many industries from larger volumes of production enable the enterprise not only to compete in world markets but also to produce more cheaply for the local market.
Export industries tend to grow faster than the other parts of the economy and generate extra income, which makes possible both increased production and increased importation of products and services for the local market. Domestic manufacturing may grow rapidly until all opportunities to substitute import items with materials produced locally have been exploited. After that, local market industries merely follow the pace of the developing economy in general, rather than leading it the why export industries do. Export industries usually, base their success on the availability of labour, materials or fuel at costs lower than in competing countries or on transporting savings, tariff advantages in certain type of markets and superior skills of management or labour.
Direction: Read the passage carefully and answer the questions by choosing the correct answer from the four given alternatives.
In contrast to local market manufacturing for export industries, it is more difficult to get the government support. However, export companies offer very great advantages to an economy and therefore, deserve the highest importance in industrial development programmes. To survive, industries must be efficient and deliver products that compare favorably in quality with products of other countries because they are continually exposed to world competition. Foreign exchange currency earned from exports can be used to import other products that could only be made in the developing country at excessive cost. Another great advantage of manufacturing for export is that the world offers a tremendous market for almost any type of production that is competitive in price and quality. This creates an opportunity to build industries that are usually much larger than could be justified for the local market alone. The cost savings that are derived in many industries from larger volumes of production enable the enterprise not only to compete in world markets but also to produce more cheaply for the local market.
Export industries tend to grow faster than the other parts of the economy and generate extra income, which makes possible both increased production and increased importation of products and services for the local market. Domestic manufacturing may grow rapidly until all opportunities to substitute import items with materials produced locally have been exploited. After that, local market industries merely follow the pace of the developing economy in general, rather than leading it the why export industries do. Export industries usually, base their success on the availability of labour, materials or fuel at costs lower than in competing countries or on transporting savings, tariff advantages in certain type of markets and superior skills of management or labour.
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