GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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When the value of exports exceeds the value of imports, it is called
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None of these
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Favourable Balance of Trade
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Unfavourable Balance of Trade
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Free Trade
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Explanation:
Detailed explanation-1: -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.
Detailed explanation-2: -Unfavorable balance of trade is a situation where a country has trade deficits. This means that a nation is importing more goods and services than it exports. Effect of an unfavorable balance of trade to the economy of a country.
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