Question

Explain the difference in types of balance of trade​

Answer 1

Explanation:

the difference in types of balance of trade can be defined in three ways are mentioned below

1 . when the value of import is more then the value of exports , it is called unfavorable balance of trade

2. when the value of exports is more than the value of imports it is called favourable balance of trade

Answer 2

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'. When the value of exports and imports is almost the same, it is called 'balanced balance of trade'.