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 theClass 12 syllabus faster.
Importance of Maharashtra Board Class 12 Economics Chapter 10 Foreign Trade of India
This chapter describes what foreign trade is and its significance in the Indian economy. The exchange and transactions on the foreign ground between India and other countries are called foreign trade. In this trade, commodities, goods, and services are exchanged between India and other countries.
This chapter will explain this term with a proper definition and description. You will come to know three different types of foreign trade such as import, export, and entrepot trade. The import and export trade is an action where two countries are involved. On the other hand, entrepot trade is an economic activity where a country buys goods and services from one country and sells them to another.
This chapter will also explain the importance and significance of foreign trade for the development of the Indian economy. You will understand why a country needs foreign trade and how it can rely on it.
To make this easier, you can refer to the Maharashtra Board Class 12 Economics solutions Chapter 10 Foreign Trade of India compiled by the experts to prepare this chapter well.
Benefits of India’s Foreign Trade Class 12 Economics Solutions
The vivid chapter has been covered efficiently in these solutions. The experts have followed the Maharashtra Board syllabus and covered all the conceptual aspects of this chapter in simpler versions. You can use these solutions to memorise and recall the concepts to write the right answers to exam questions.
The solutions can be downloaded and referred to anytime at your convenience. It means you can use these solutions according to your study schedule and make your sessions more productive.
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Focus on solving the Foreign Trade of India exercise questions once you are done preparing this chapter. Find out how the experts have solved the questions and develop your answering skills to score more in the board exam.
Download Foreign Trade of India exercise Solutions
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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.