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Which of the following best defines "Trade"?
  • a)
    Movement of people across borders
  • b)
    Exchange of goods and services between countries
  • c)
    A political agreement between nations
  • d)
    Creation of a new product
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Which of the following best defines "Trade"?a)Movement of pe...
Trade refers to the exchange of goods and services between nations, regions, or individuals. It plays a crucial role in the economic development of countries and fosters international relations. Through trade, countries can access resources they lack and specialize in producing goods they have a comparative advantage in.
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Which of the following best defines "Trade"?a)Movement of people across bordersb)Exchange of goods and services between countriesc)A political agreement between nationsd)Creation of a new productCorrect answer is option 'B'. Can you explain this answer?
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