Question

Distinguish between Exports and Imports.

Answer 1

import means to purchase a commodity from outside our country while export means to sell something to foreign

Answer 2

Answer:

As per the question

Distinguish between Exports and Imports

Exports :

* Selling goods and services from the domestic country to other countries

* Main aim is to create more foreign income from the selling of domestic products and to increase the global presence of domestic products and services

* Can benefit the domestic economy since it increase the foreign income to the home country

Imports :

*  Main aim is to fulfill the demand of goods and services that are lacking or not available in the  domestic country.

* Excessive import can have a negative on the domestic economy

* Bringing goods and services from another country to the home country