Question

Exports and imports of the country are called ___________.
A) Foreign trade
B) Local trade
C) National trade
D) None
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Answer 1

(A) Foreign Trade

This is the solution.

Answer 2

The correct answer is A) Foreign trade.

Foreign trade refers to the exchange of goods and services between different countries. It involves both exports (goods and services produced in one country and sold to another) and imports (goods and services produced in another country and purchased by the home country).
Foreign trade is an essential aspect of the global economy, as it allows countries to access a broader range of goods and services, tap into new markets, and create new economic opportunities.

Local trade refers to the exchange of goods and services within a particular geographic area, such as a city, region, or state. National trade is a term that does not exist, as it could be interpreted as either local trade within a country or foreign trade between different countries.
Therefore, the correct answer is A) Foreign trade, as it specifically refers to the international exchange of goods and services between countries.

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