Question

the difference between the value of exports & imports during a year give economic term​

Answer 1

Answer:

Balance of trade (BOT) is the difference between the value of a country's exports and the value of a country's imports for a given period. Balance of trade is the largest component of a country's balance of payments (BOP).1

Explanation:

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Answer 2

Answer:

Balance of Trade

Explanation:

The difference between the value of exports & imports during a year is called Balance of Trade.

• Balance of trade is narrower concept.
• It refers  to only visible items/ materials such as machines, cloths, sugar etc. which can be physically seen , touched, counted, measured and weighted.
• It includes Recording of visible items at the custom barriers.
• Balance of trade is the process of proper recording of visible items in respect to measure the value of difference between Export and Import of Goods.
• It is a proper record of all economic transactions b/w resident of one country to another countries of the world.
• The given time period is one year.
• Balance of trade = Export of Visible items - Import of visible items.

Thus,  Balance of Trade is recording of three types of transaction i.e. visible, invisible and capital transfer from one country to another country.

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