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Foreign Trade of India — Economics STD 12 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 12 Commerce / ArtsEconomicsForeign Trade of India2 Marks
Question
Trade surplus and Trade deficit.
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Answer

Trade surplus:

  1. When country’s exports are more than its imports, it is called as trade surplus.
  2. Generally, it is considered as a positive development.

Trade deficit:

  1. When country’s import are more than its exports, it is called as trade deficit.
  2. Generally, it is considered as a negative development.

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