📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    âš¡ Month End Offer - Flat 52% Off On All Courses! Enroll Now âš¡
    00:00:00 AM Left

    Question

    Balance of trade is the

    _______________.
    A Difference between export and import of services Correct Answer Incorrect Answer
    B Total export and import of services Correct Answer Incorrect Answer
    C Difference between export and import of goods Correct Answer Incorrect Answer
    D Total export and import of goods Correct Answer Incorrect Answer

    Solution

    Balance of trade refers to the difference between the value of goods (exports) a country sells to other countries and the value of goods (imports) it buys. It provides insights into a nation's trade performance in terms of tangible items.

    Practice Next
    More Economics Questions

    Relevant for Exams:

    ask-question