ENTREPRENEURIAL OPPORTUNITIES
COMPETITIVE ANALYSIS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Importing is a business activity in which goods and services enter a country from foreign suppliers.
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True
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False
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Either A or B
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None of the above
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Explanation:
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: -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.
Detailed explanation-3: -Importing is the buying goods and services from foreign sources and bringing them back into the home country. Importing is also known as global sourcing.
There is 1 question to complete.