Question

. Types of goods which are exported and imported by a nation is called
(a) Balance of trade
(b) Direction of trade
(c) Composition of trade
(d) Trade surplus
TIS​

Answer 1

Answer:

a. balance of trade

Explanation:

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Answer 2

Answer:

The correct answer is Option C: composition of trade.

Explanation:

Composition of trade:

• A study of a country's imports and exports of products and services is referred to as trade composition.
• In other words, it informs on a country's commodities of imports and commodities of exports.
• As a result, it reveals a country's economic structure and level of development.

• Foreign trade is made up of both things that we export and goods that we import.
• As a result, trade composition includes both the composition of exports and the composition of imports.

• The makeup of India's foreign commerce has changed dramatically, particularly since liberalization and globalization.
• Manufacturing items such as Engineering Goods, Petroleum Products, Chemicals, and related Products, Gems and Jewellery, Textiles, Electronic Goods, and so on are currently among our significant exports.