USA HISTORY

WORLD WAR II 1941 1945

THE ATTACK ON PEARL HARBOR

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which of the terms below meanto bring in (merchandise, commodities, workers, etc.) from a foreign country for use, sale, processing, or services.
A
import
B
export
C
goods
D
rationing
Explanation: 

Detailed explanation-1: -Export refers to a product or service produced in one country but sold to a buyer abroad. Exports are one of the oldest forms of economic transfer and occur on a large scale between nations.

Detailed explanation-2: -Terms of trade are defined as the ratio between the index of export prices and the index of import prices. If the export prices increase more than the import prices, a country has a positive terms of trade, as for the same amount of exports, it can purchase more imports.

Detailed explanation-3: -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.

Detailed explanation-4: -And crude petroleum oil is imported the most in India. After mineral fuels, gems & precious metals are 2nd main import items of India. According to import data India, gold is the largest import product under Chapter 71.

There is 1 question to complete.