GK
BUSINESS ECONOMICS
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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: -Export refers to a product or service produced in one country but sold to a buyer abroad. Exports are one of the oldest forms of economic transfer and occur on a large scale between nations.
Detailed explanation-2: -Export is defined as an actual shipment or transmission of items out of the United States. This includes standard physical movement of items across the border by truck, car, plane, rail, or hand-carry.
Detailed explanation-3: -Exports of goods and services consist of transactions in goods and services (sales, barter, and gifts) from residents to non-residents. Exports of goods occur when economic ownership of goods changes between residents and non-residents.
Detailed explanation-4: -Service Exporter is an exporter who exports the services where we can’t see the product physically, i.e, intangible products. We can explain service export simply as, any service provided by a person in one nation to people or companies from another. Service exports are an important emerging trend in global trade.