Define ‘trade surplus’. Why Britain had a trade surplus with India ? explain with reference to class 10 social.
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Trade surplus:
When the value of exports is higher than value of imports, it is called as ‘Trade Surplus’.
Britain had a trade surplus with India for the following reasons:
(i) Britain used this surplus to balance its trade deficits with other countries - that is. with countries from which Britain was importing more than it was selling to.
(ii) This is how n multi-lateral settlement system works - it allows one country’s deficit with another country to be settled by its surplus with a third country.
(iii) By helping Britain balance its deficits. India played a crucial role in the late- nineteenth century world economy.
(iv) Britain’s trade surplus in India also helped to pay the so-called ‘home charges’ that included private remittances home by British officials and traders, interest payments on India’s external debt, and pensions of British officials in India.
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LETS SUPPORT SYRIANS LET THE SUPPORT OF INDIA START FROM US
add the above statement in ur ques and ans
When the value of exports is higher than value of imports, it is called as ‘Trade Surplus’.
Britain had a trade surplus with India for the following reasons:
(i) Britain used this surplus to balance its trade deficits with other countries - that is. with countries from which Britain was importing more than it was selling to.
(ii) This is how n multi-lateral settlement system works - it allows one country’s deficit with another country to be settled by its surplus with a third country.
(iii) By helping Britain balance its deficits. India played a crucial role in the late- nineteenth century world economy.
(iv) Britain’s trade surplus in India also helped to pay the so-called ‘home charges’ that included private remittances home by British officials and traders, interest payments on India’s external debt, and pensions of British officials in India.
:) Hope it Helps !!!
PLS SUPPORT SYRIANS LOOK AT THEIR DIFFICULTIES IN GOOGLE
LETS SUPPORT SYRIANS LET THE SUPPORT OF INDIA START FROM US
add the above statement in ur ques and ans
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Answer:
When a country sells more to other countries than buys from other countries that is called trade surplus.
In this case a country's export is more than its imports.
Explanation:
The amount of Britain exports to India was much greater than the amount of Britain imports from India.
And we know that When a country sells more to other countries than buys from other countries that is called trade surplus. That's why we can say British had a trade surplus with India.
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