Q.1 (A) (ii) Complete the following statement : Balance of trade is also referred to as _______.
A. National trade balance
B. International trade balance
C. Balance of payment
D. Systematic record of all international economic transactions
Best answer
Answer: B. International trade balance
Answer: (b) International trade balance
Balance of trade is the difference between the value of a country’s visible exports and visible imports of goods during a year. It is also called the international trade balance. The balance of payments is a wider systematic record of all international economic transactions, so options (c) and (d) describe a different concept.
Log in or create a free account to answer this question.
