Question

Choose incorrect option:

Export and import are the components of trade.

The balance of trade of a country is the addition of its export and import.

When the value of exports exceeds the value of imports, it is called a favourable balance of trade.

On the contrary, if the value of imports exceeds the value of exports, it is termed as unfavourable balance of trade.

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Answer 1

Answer:

Export and import are the components of trade

Answer 2

Export and import are the components of trade.