ECONOMICS
BALANCE OF TRADE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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all types of goods
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all types of services
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Either A or B
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None of the above
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Detailed explanation-1: -Visible Items : Exports and Imports of all type of physical goods is called visible items.
Detailed explanation-2: -Visible items refer to those items which are made of some matter or material and can be seen, touched and measured. For example, jute, cotton, etc.
Detailed explanation-3: -Visible items which include all types of physical goods exported and imported. 2. Invisible items which include all those services whose export and import are not visible. e.g. transport services, medical services etc.
Detailed explanation-4: -Such services include freight and passenger transport; banking, other financial services, and insurance; scientific-technical exchange; and international tourism.
Detailed explanation-5: -Visible exports are physical goods sent out of the country and money comes in e.g. Butter exported to China, Beef exported to Scotland. Visible imports are physical goods coming in to the country and money goes out e.g. Wine from Chile, leather shoes from Spain.