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Distinguish Between: Exports and Imports - Economics

Distinguish Between

Distinguish between:

Exports and Imports

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Solution

Exports Imports
It is the selling of domestically produced goods and services to any foreign country. It is the buying of internationally produced goods and services by the domestic country.
In exports, goods flow out of the economy. In imports, goods flow into the economy.
Here, foreign exchange is earned by the economy. Here, foreign exchange flows out of the economy.
Concept: Difference Betweeen Export and Import
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Micheal Vaz Economics HSC 12th Standard Maharashtra State Board
Chapter 10 Determinants of Aggregates
Exercise | Q 1.3 | Page 94
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