ECONOMICS
BARRIERS TO TRADE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Goods and services produced in a country outside of one’s home country
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Foreign goods
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Domestic goods
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Imports
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Exports
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Explanation:
Detailed explanation-1: -Exports are goods and services that are produced in one country and sold to buyers in another.
Detailed explanation-2: -Imports are the goods and services that are purchased from the rest of the world by a country’s residents, rather than buying domestically produced items.
Detailed explanation-3: -An import is a product or service produced abroad and purchased in your home country. Imported goods or services are attractive when domestic industries cannot produce similar goods and services cheaply or efficiently.
Detailed explanation-4: -Export-When goods are sent from one country to another then it is called export.
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