Define: Imports, Exports, Trade. | web4study

Define: Imports, Exports, Trade.



 

IMPORT:

The commodities, raw material or manufactured products which country purchases from other countries to fulfill the requirements are called Imports.

 

EXPORT:

Those products, raw materials or manufactured commodities which are surplus from the actual requirements of a country and it sells them to other countries and gains foreign exchange are called Exports.

 

TRADE:

Such organization which helps in producing commodities and services and it gives services to the society as well as gains profit for itself is called Trade.

 

 


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