ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Exporting refers to the selling of goods and services from the home country to a foreign nation. Whereas, importing refers to the purchase of foreign products and bringing them into one’s home country.

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: -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.

Detailed explanation-4: -Goods and services produced in one country but supplied to buyers in another are known as exports. International trade is made up of exports and imports. Exports: An Overview. Exports are critical to market democracies because they provide people and businesses with access to a larger market for their products.

Detailed explanation-5: -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.