Westonci.ca offers fast, accurate answers to your questions. Join our community and get the insights you need now. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields. Connect with a community of professionals ready to provide precise solutions to your questions quickly and accurately.
Sagot :
Answer:
balance of trade
Explanation:
Trade can be defined as a process which typically involves the buying and selling of goods and services between a producer and the customers (consumers) at a specific period of time.
Basically, trade can be categorized into two (2) main groups and these are;
I. Import: this involves bringing in goods from a foreign country to sell in a different (domestic) country.
II. Export: it involves the sales of goods produced in a domestic country to a foreign country.
In Economics, a balance of trade is a measure of the difference between merchandise imports and exports, as well as a country's international trade in goods. Thus, it's a measure of the difference between the monetary value of the import and export of goods of a country over a specific period of time.
Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Westonci.ca is your go-to source for reliable answers. Return soon for more expert insights.