0
You visited us 0 times! Enjoying our articles? Unlock Full Access!
Question

________ is the exchange of commodities within or between countries.
  1. Export-Import
  2. Business
  3. Trade
  4. Commerce

A
Export-Import
B
Business
C
Commerce
D
Trade
Solution
Verified by Toppr

Trade may be defined as "an exchange of goods and commodities either within the country or between countries." In simple terms, buying and selling of commodities is called trade and it may be local, regional, national and international.

Was this answer helpful?
0
Similar Questions
Q1
________ is the exchange of commodities within or between countries.
View Solution
Q2
________ trade is the exchange of commodities between two countries.
View Solution
Q3
_______ refers to the importance of a commodity due to its usefulness whereas _______ refers to the capacity of a commodity to command or obtain other goods in exchange.
View Solution
Q4
Arrange the sentences in a logical sequence.
A. Payment for imports and exports is made through a system called foreign exchange. The value of the money of one country in relation to the money of other countries is agreed upon.
B. The rates of exchange vary from time to time.
C. For example, an American dollar or a British pound sterling is worth certain amounts in the money of other countries.
D. Sometimes a US dollar is worth 60 rupees in India.
View Solution
Q5
______ can be defined as the power of a commodity to command other commodities in its exchange.
View Solution