ENTREPRENEURIAL MARKETING
MARKETING MIX
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Exporting
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Importing
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Either A or B
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None of the above
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Detailed explanation-1: -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. If the value of a country’s imports exceeds the value of its exports, the country has a negative balance of trade, also known as a trade deficit.
Detailed explanation-2: -Importing is the flipside of exporting. Importing refers to buying goods and services from foreign sources and bringing them back into the home country. Importing is also known as global sourcing.
Detailed explanation-3: -An import is a good, product or service brought into a country from another country. The person or company bringing the product into the country is the importer. The person or company shipping the product from abroad is the exporter. Tariffs are often charged on imported products.