ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Goods and services produced in one country but supplied to buyers in another are known as exports. International trade is made up of exports and imports. Exports: An Overview. Exports are critical to market democracies because they provide people and businesses with access to a larger market for their products.

Detailed explanation-2: -In global trade, exporting is the process by which companies from one country sell their goods and services to companies or consumers in a different country.

Detailed explanation-3: -Selling of goods and services from the home country to a foreign country is known as export, while buying of goods and services and bringing them into one’s home country is known as import.

Detailed explanation-4: -Export-When goods are sent from one country to another then it is called export. Import-When goods are purchased from other countries then it is called import.

Detailed explanation-5: -Exports are goods and services made by a country and sold to another. They are crucial to many economies, as they provide goods and services to areas that may not be in the position to produce such products; thereby, creating new markets.