ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the exchange of goods, and services across international borders or territories
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the exchange of capital, goods, and services
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the exchange of capital, goods, and services across international borders or territories
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the exchange of goods across international borders or territories
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Detailed explanation-1: -International trade is the exchange of capital, goods, and services across international borders or territories, which could involve the activities of the government and individual. In most countries, such trade represents a significant share of gross domestic product (GDP).
Detailed explanation-2: -International trade is the purchase and sale of goods and services by companies in different countries. Consumer goods, raw materials, food, and machinery all are bought and sold in the international marketplace.
Detailed explanation-3: -International trade is an exchange involving a good or service conducted between at least two different countries. The exchanges can be imports or exports. An import refers to a good or service brought into the domestic country. An export refers to a good or service sold to a foreign country.
Detailed explanation-4: -International trade refers to the exchange of goods and services between countries and across borders, and it is called that.