GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Balance of Trade
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difference between a country’s imports and exports
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company or manufacturer is more involved with the exporting process
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goods are exported from a company through a third party company
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goods or services which are produced in one country and are shipped to another country for sale or trade
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foreign goods and services are shipped into another country and received by the consumer without going through a middle man
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Explanation:
Detailed explanation-1: -The balance of trade is the difference between a country’s exports and imports of goods. A positive balance of trade, also known as a trade surplus, occurs when a country exports more goods than it imports.
Detailed explanation-2: -The trade balance is the difference between the value of the goods that a country (or another geographic or economic area such as the European Union (EU) or the euro area) exports and the value of the goods that it imports.
Detailed explanation-3: -If the exports of a country exceed its imports, the country is said to have a favourable balance of trade, or a trade surplus. Conversely, if the imports exceed exports, an unfavourable balance of trade, or a trade deficit, exists.
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