ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
buy or have goods shipped into a country
|
|
|
sell or have good shipped out of a country
|
|
|
Either A or B
|
|
|
None of the above
|
Detailed explanation-1: -The import trade refers to goods and services purchased into one nation from another. The word ‘import’ originates from the word ‘port’ considering the fact that the products are frequently transported via ship to foreign countries. Similar to exports, imports are also the backbone of international trade.
Detailed explanation-2: -Imports are any resources, goods, or services that producers in one country sell to buyers in another country.
Detailed explanation-3: -An import is the process of receiving or bringing in goods from abroad for the purpose of trade. These goods can be received by individuals, companies or government, and are used for the processing of other products or to be resold to the final consumers.
Detailed explanation-4: -: to bring from a foreign or external source: such as. : to bring (something, such as merchandise) into a place or country from another country. : to transfer (files or data) from one format to another usually within a new file. : to bear or convey as meaning or portent : signify. : imply.
Detailed explanation-5: -Importing and Exporting 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.