ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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import
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export
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tariff
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None of the above
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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: -Goods and services that a country buys from foreign countries are called imports.
Detailed explanation-3: -Import of goods means bringing goods into India from a place outside India. Import of Services means the supply of any service where the supplier of service is located outside India and the recipient and place of supply of service is in India.
Detailed explanation-4: -JEE Main 2022 Question Paper Live Discussion. JEE Main 2022 Question Papers.