ENTREPRENEURIAL OPERATIONS
SUPPLY CHAIN MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A product produced in this country and sold in a foreign country is called a:
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Export
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Import
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -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-2: -Exports are defined as movable goods produced within the boundaries of one country, which are traded with another country. The sale of these goods generates foreign currency earnings in the country that produces them and boosts its economic growth.
Detailed explanation-3: -When the goods are imported from one country with the purpose of exporting it to another country, then such type of trade is called entrepot trade.
There is 1 question to complete.