ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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composition of trade
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direction of trade
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balance of trade
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none of these
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Detailed explanation-1: -Foreign trade refers to the exchange of goods and services between different countries. It comprises both imports and exports.
Detailed explanation-2: -The trade that India does with various other foreign countries is the ultimate destination of those goods. That destination is known as the direction of exports. Similarly, India also with the advent of globalization has been indulged in cross-national trade of goods and services.
Detailed explanation-3: -Definition: The Direction of Trade Statistics (DOTS) presents the value of merchandise exports and imports disaggregated according to a country’s primary trading partners. Area and world aggregates are included in the display of trade flows between major areas of the world.
Detailed explanation-4: -International Trade: Commerce among Nations.