Question

The difference between exports and imports is called-?
A) assets and liabilities B) balance of payment C) GDP D) balance of trade

Answer 1

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D) Balance of trade

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Answer 2

QUESTION:

The difference between exports and imports is called-?

A) assets and liabilities B) balance of payment C) GDP D) balance of trade

ANSWER:

The difference between exports and imports is called-?

A) assets and liabilities❌

B) balance of payment ❌

C) GDP ❌

D) balance of trade✔

Differnce between the export and import of trade is called balance of trade.

When the value of export is greater than value of import then there is favourable balance of trade.

or

When the value of import is greater than value of export then there is unfavourable balance of trade.

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