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Identify and explain the concept from the given illustration: Japan sells smartphones to Myanmar. - Economics

Short Note

Identify and explain the concept from the given illustration:

Japan sells smartphones to Myanmar.

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Solution

Concept: Foreign trade

Explanation:

  1. Foreign trade refers to trade between different countries of the world.
  2. Hence, this illustration relates to the concept of ‘foreign trade’ as Japan (i.e. one country) sells phones to Myanmar (i.e. another country)
Concept: Trends in India’s Foreign Trade since 2001
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APPEARS IN

Balbharati Economics 12th Standard HSC Maharashtra State Board
Chapter 10 Foreign Trade of India
Exercise | Q 2. (4) | Page 98
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