WORLD HISTORY

Detailed explanation-1: -Answer and Explanation: Good sold in other countries are called “exports” and the more a company exports over its imports, the more positive its balance of trade is.

Detailed explanation-2: -Foreign trade refers to the exchange of goods and services between different countries.

Detailed explanation-3: -terms of trade (also called “trading price”) the price of one good in terms of the other that two countries agree to trade at; beneficial terms of trade allows a country to import a good at a lower opportunity cost than the cost for them to produce the good domestically, thus the country gains from trade.

Detailed explanation-4: -International trade in which countries both import and export the same or similar goods is called two-way (or intraindustry) trade.