SSC
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Difference between the total value of exports and imports is called.
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Balance of Payment
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Balance of Trade
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Surplus Budget
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Deficit Balance
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Explanation:
Detailed explanation-1: -Balance of trade (BOT) is the difference between the value of a country’s exports and the value of a country’s imports for a given period. Balance of trade is the largest component of a country’s balance of payments (BOP).
Detailed explanation-2: -Import trade refers to the purchase of goods and services by one country from another. Export trade refers to the sale of goods and services by one country to another.
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