GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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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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foreign goods and services are shipped into another country and received by a distributor, then sold to the consumer
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goods or services brought into one country from another
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authority of one or more member countries is significantly reduced and a common, united government is put in place
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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. Exports are critical to market democracies because they provide people and businesses with access to a larger market for their products.
Detailed explanation-2: -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-3: -International trade is any legal exchange of goods and services between countries. When a business in one country exports goods or services to consumers in another country, it is called international trade.
Detailed explanation-4: -Exports are goods and services that are produced in one country and sold to buyers in another. Exports, along with imports, make up international trade.
Detailed explanation-5: -Trade in services that takes place between a producer and consumer that are, in legal terms, based in different countries is called International Trade in Services.