ECONOMICS (CBSE/UGC NET)

ECONOMICS

TECHNOLOGY

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which economic term BEST describes sending goods to another country and getting goods from another country?
A
exporting and importing
B
buying and selling
C
supply and demand
D
production and consumption
Explanation: 

Detailed explanation-1: -Exports are goods and services that are produced in one country and sold to buyers in another. Exports, along with imports, make up international trade.

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: -The correct option is A. Import. The purchase of goods from a foreign country is called import.

There is 1 question to complete.