GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Imports
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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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monetary and fiscal policies between member countries are coordinated by political integration
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member countries are free to move factors of production within other member countries
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tariffs between member countries are predetermined and applied to other countries
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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: -Import. The purchase of goods from a foreign country is called import.
Detailed explanation-3: -Import-When goods are purchased from other countries then it is called import.
Detailed explanation-4: -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.
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