Maharashtra Board Class 12 Solutions for Economics Chapter 10 Foreign Trade of India – Download Free PDF with Solution
Trading is a part of the economy of a country. It is the process where goods and services are exchanged in the domestic and foreign markets. The exchange of goods and services on international grounds between two countries is called foreign trade. This chapter will explain what it is and what its features are.
To understand the concepts of Foreign Trade of India, focus on the solutions prepared by the experts. These solutions will explain the fundamental principles of foreign trade and its significance in the Indian market in a simpler version. You will be able to complete preparing this chapter and proceed with the Class 12 syllabus faster.
Maharashtra Board Class 12 Solutions for Economics Chapter 10 Foreign Trade of India - PDF will be uploaded soon
FAQs on Maharashtra Board Class 12 Solutions for Economics Chapter 10 Foreign Trade of India
1. What is import trade?
The transaction or exchange where goods and services enter India from another country is called import.
2. What is export trade?
The exchange process where goods and services go out of India to a designated country is called export trade.
3. Why do we study foreign trade trends?
Studying foreign trade trends will enable us to foresee the upcoming years and analyse risks. We can also identify the scopes we can enjoy in foreign trade to enhance India’s economy.
4. Give an example of entrepot trade.
The diamond merchants of Surat import uncut diamonds from South Africa, polish the raw diamonds and sell them to the international diamond markets. This is where more than two countries are involved in foreign trade, and is called entrepot trade.
5. Why do we study foreign trade?
Studying foreign trade enables us to understand the global market and demands of products.