Is it true that The exchange of information and knowledge has been superseded by the exchange of commodities and goods over the last few years?

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True

False

answer is B.

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Detailed Solution

The above statement is false.
International trade has undergone several changes in the past years. The introduction of the globalisation concept led to a rapid increase in foreign exchange rates. Exchange of commodities like agricultural and industrial commodities transformed into exchanging knowledge and information. The development of the Information Technology sector has turned India into one of the biggest software and hardware exporters. The software giant earns huge amounts of foreign exchange by exporting information technology products and services. The still-developing IT sector has high employment possibilities and contributes to the country's economic prosperity. India's foreign trade has been steadily rising for the last few years.
The correct statement would be that the exchange of commodities and goods has been superseded by the exchange of information and knowledge over the last few years.

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