GK
WORLD GEOGRAPHY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Import
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Export
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Gloalization
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None of the above
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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: -Export-When goods are sent from one country to another then it is called export. Import-When goods are purchased from other countries then it is called import.
Detailed explanation-3: -Imports can be finished products, like cars, TV sets, computers, or sneakers, or they can be raw materials, such as zinc, oil, wood, or grains. They can also be services, like financial services, travel services, and insurance. Imports are a vital part of the U.S. and global economy.
Detailed explanation-4: -Machinery (including computers and hardware) – $386.4 billion. Electrical machinery – $367.1 billion. Vehicles and automobiles – $306.7 billion. Minerals, fuels, and oil – $241.4 billion. Pharmaceuticals – $116.3 billion. Medical equipment and supplies – $93.4 billion. More items •17-Dec-2019