When there is buying and selling of goods, it is called as ________. [Invisible trade / Visible trade / balanced trade]
Answers
Answer
Trade and Commerce The buying and selling of goods and services is called trade. Trade can be classified into home trade (the buying and selling of goods.
"Visible trade"
More about Visible trade:
Visible trade, in economics, is the essential and exporting of physical goods, products that you can touch. The product being traded could be a basic material such as coal, oil or wood, or the finished product, such as a car or smartphone. Visible trade refers to the exchange of physical goods in each stage of production. They are also well known as international merchandise transactions.
A nation’s current account balance is the total exports of visible and invisible products, less all visible plus invisible imports. If an economy exports more than it imports it has a trade excess. A trade loss occurs when imports are greater than exports.