80 Views

in economy, which function of goods & services is known as trade ?

Janvi parmar 25th Dec, 2020

Answer (1)

sunkehimabindu2603 25th Dec, 2020

Hello aspirant !

Trade involves the buying and selling of goods and services with compensation paid by a buyer to seller.

Countries that are open to international trade tend to grow faster, innovate, improve productivity and provide higher income and more opportunities to their people.

Trade is central to ending global poverty.

Hope this information helps you.

Good luck.

Share

Facebook Copy Link

More

Comments (0)

Related Questions

Which economy IAS books is best for the UPSC civil services exam?

9 Views

Question : Flow of Goods and Services and factors of production across different sectors in a barter economy is known as:

Option 1: Circular Flow
Option 2: Real Flow
Option 3: Monetary Flow
Option 4: Capital Flow

12 Views

Question : An economy which does not have any relation with the rest of the world is known as
Option 1: Socialist economy
Option 2: Closed economy
Option 3: Open economy
Option 4: Mixed economy

15 Views

Question : Which of the following is not a component of the current account?
Option 1: Trade in goods
Option 2: Trade in services
Option 3: Factor income
Option 4: Portfolio investment

12 Views

which certificate is known as state of eligibility proof

1115 Views

Link Copied

The question have been saved in answer later, you can access it from your profile anytime. Access now

Thanks! Your report is submitted, the author will be informed about it

Download Careers360 App

All this at the convenience of your phone

Regular Exam Updates
Best College Recommendations
College & Rank predictors
Detailed Books and Sample Papers
Question and Answers