ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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export
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net
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import
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None of the above
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Detailed explanation-1: -Export refers to a product or service produced in one country but sold to a buyer abroad. Exports are one of the oldest forms of economic transfer and occur on a large scale between nations.
Detailed explanation-2: -Answer and Explanation: Good sold in other countries are called “exports” and the more a company exports over its imports, the more positive its balance of trade is. If exports exceed imports, the nation runs a trade surplus.
Detailed explanation-3: -When the goods are imported from one country with the purpose of exporting it to another country, then such type of trade is called entrepot trade.
Detailed explanation-4: -When buying and selling of goods take place across the national boundaries of different countries it is called External trade. It is also known as Foreign trade or International trade.
Detailed explanation-5: -Establishing an Organisation. Opening a Bank Account. Obtaining Permanent Account Number (PAN) Obtaining Importer-Exporter Code (IEC) Number. Registration cum membership certificate (RCMC) Selection of product. Selection of Markets. Finding Buyers. More items