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External Sector Trade and Capital - 1 Video Lecture | Indian Economy for UPSC CSE
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FAQs on External Sector Trade and Capital - 1 Video Lecture - Indian Economy for UPSC CSE
| 1. What is the external sector trade? |  |
Ans. External sector trade refers to the buying and selling of goods and services between one country and other countries. It involves imports and exports of goods and services and plays a crucial role in a country's economy.
| 2. How does the external sector trade impact a country's economy? | |
Ans. The external sector trade can have both positive and negative impacts on a country's economy. It can stimulate economic growth by providing access to larger markets, attracting foreign investments, and increasing employment opportunities. However, it can also lead to trade imbalances, loss of domestic industries, and vulnerability to international market fluctuations.
| 3. What is the role of capital in the external sector trade? | |
Ans. Capital is an essential component of the external sector trade as it facilitates the flow of financial resources between countries. It includes investments, loans, and financial instruments. Capital inflows can support economic development by providing funding for infrastructure projects, technology transfers, and business expansions. Conversely, capital outflows can indicate a flight of capital or investments leaving the country.
| 4. How does the external sector trade affect a country's balance of payments? | |
Ans. The external sector trade has a direct impact on a country's balance of payments. The balance of payments records all economic transactions between residents of a country and the rest of the world. A surplus in the trade balance (exports exceeding imports) contributes to a positive balance of payments, while a deficit (imports exceeding exports) leads to a negative balance. This balance affects a country's currency exchange rates and overall economic stability.
| 5. What are some challenges faced by countries in managing their external sector trade? | |
Ans. Countries face various challenges in managing their external sector trade. These include maintaining a favorable trade balance, dealing with trade barriers and protectionism, managing currency exchange rates, addressing trade disputes, and ensuring fair and equitable trade agreements. Additionally, countries need to balance the benefits of trade with the protection of domestic industries and employment.
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Nov 24, 2024 Last updated |
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