Explain graphically the difference
in types of balance of trade?
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3
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(i) When the value of imports is more than the value of exports, it is called 'unfavorable balance of trade. (ii) When the value of exports is more than the value of imports, it is called 'favourable balance of trade.
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5
Answer:
When the value of imports is more than the value of exports, it is called 'unfavorable balance of trade. When the value of exports is more than the value of imports, it is called 'favourable balance of trade.
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