ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Goods sold to other countries are called:
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Imports
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Exports
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Either A or B
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None of the above
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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: -Export Definition. 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.
Detailed explanation-3: -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.
There is 1 question to complete.