ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Dfference between import and export of goods
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difference between import and export of services
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Difference between import and export of capital
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Difference betwee all import and all export
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Detailed explanation-1: -The balance of trade is typically measured as the difference between a country’s exports and imports of goods. To calculate the balance of trade, you would subtract the value of a country’s imports from the value of its exports.
Detailed explanation-2: -Balance of trade is measured as the difference between import and exports of goods.
Detailed explanation-3: -If the exports of a country exceed its imports, the country is said to have a favourable balance of trade, or a trade surplus. Conversely, if the imports exceed exports, an unfavourable balance of trade, or a trade deficit, exists.
Detailed explanation-4: -Net exports are the estimation of the total value of a country’s exports minus the total value of its imports. A positive net exports figure indicates a trade surplus. On the other hand, a negative net exports figure indicates a trade deficit.
Detailed explanation-5: -The correct answer is Balance of trade . Key Points. The difference between the value of a country’s exports and the value of its imports for a certain period is known as the balance of trade (BOT).