Question

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Q1. What do you mean by balance of trade ? When it is favourable and unfavourable.
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Answer 1

$\huge{DEFINITION\:}$

$<b>The difference in value between a country's imports and exports is called balance of trade or BOT. There are two answers.The balance of trade can be either favourable or unfavourable.This can be explained as follows : (i) If exports are more than imports, then the balance of trade is favourable. (ii) If imports are more than exports, then the balance of trade is unfavourable.$

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Answer 2

Explanation:

The difference in value between a country's imports and exports is called balance of trade or BOT. There are two answers.The balance of trade can be either favourable or unfavourable.This can be explained as follows : (i) If exports are more than imports, then the balance of trade is favourable. (ii) If imports are more than exports, then the balance of trade is unfavourable.

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