Trade of a country is defined by a term given in which of the following options.
a. The ratio of goods exported and imported
b. The ratio of prices of exports and imports
c. The ratio of prices of exports and imports and The ratio of goods exported and imported
d. The ratio of import duties
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Answer:
option c.as it is the defination of this term
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Answer: Correct answer is A: The ratio of goods exported and imported
Explanation: This term refers to the comparison between the quantity or value of goods a country exports and the quantity or value of goods it imports. It helps determine the balance of trade and the level of economic activity related to international trade.
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