ECONOMICS
BALANCE OF TRADE
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is a trade surplus?
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when the value of exports exceeds the value of imports
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when the value of imports exceeds the value of exports
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when the values of imports and exports are equal to each other
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when the value of money greater than the amount of goods and services imported
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Explanation:
Detailed explanation-1: -If exports exceed imports then the country has a trade surplus and the trade balance is said to be positive. If imports exceed exports, the country or area has a trade deficit and its trade balance is said to be negative.
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