ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -What Is an Import? An import is a good or service bought in one country that was produced in another. Imports and exports are the components of international trade. If the value of a country’s imports exceeds the value of its exports, the country has a negative balance of trade, also known as a trade deficit.

Detailed explanation-2: -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-3: -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-4: -Imports are goods brought into the country from another country.

Detailed explanation-5: -One-time import. This handles importing most profile information for both people and organizations. Recurring import. A list or filter shared by another nation can be imported using the recurring import. Voter file import. Ballot import. Scanned survey import. Donation import. Membership import.