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TRANSPORTATION, COMMUNICATION AND TRADE. — Social Science STD 10 — Question

Gujarat BoardEnglish MediumSTD 10Social ScienceTRANSPORTATION, COMMUNICATION AND TRADE.2 Marks
Question
Differentiate between import trade and export trade.
✓

Answer

Import trade Export trade
  • The purchase of goods or services from a foreign
country on a commercial basis is known as import trade.
  • When the import increases more than export, it is an
alarming situation for a country's economy.
  • Increase in import leads to reduction in foreign exchange.
  • The sale of goods or services to a foreign country
on a commercial basis is known as export trade.
  • When the export increases more than import it
is a sign of growth in economy of exporters country.
  • Increase in exports leads to earning of foreign exchange.

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