ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which economic term BEST describes sending goods to another country and getting goods from another country?
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exporting and importing
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buying and selling
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supply and demand
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production and consumption
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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. 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.
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