ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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sell or have goods shipped out of a country to another country
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buy or have goods shipped into a country from another country
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Either A or B
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None of the above
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Detailed explanation-1: -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-2: -Exports of goods and services consist of transactions in goods and services (sales, barter, and gifts) from residents to non-residents. Exports of goods occur when economic ownership of goods changes between residents and non-residents.
Detailed explanation-3: -The correct option is B international trade. The process of buying or selling goods is called trade. There are two types of trade: International trade and Domestic trade. The puchase or sale of goods across borders is called International trade.
Detailed explanation-4: -Export is defined as an actual shipment or transmission of items out of the United States. This includes standard physical movement of items across the border by truck, car, plane, rail, or hand-carry.
Detailed explanation-5: -Selling to a foreign country with the focus on the product and the emphasis on selling. The key elements of marketing mix (product, price, promotion, and channels of distribution) are all the same as in the home market. Only the place or distribution is adjusted in export selling.