Economic Awareness - Sectors of Indian Economy
The term 'visible trade' in the context of Balance of Trade refers to:
The term 'visible trade' in the context of Balance of Trade refers to:
easy Q11 of 15
Step-by-Step Solution
Step 1: Identify the concept
Balance of Trade is synonymous with visible trade, which pertains to physical goods only.Step 2: Apply the concept
Services constitute invisible trade. Financial assets relate to capital/financial accounts, and unilateral transfers are part of the current account transfers. Only trade in goods qualifies as visible trade.Final Answer:
Trade in goods → Option BQuick Check:
Trade in goods ✅
Quick Trick: Visible = Goods (tangible), Invisible = Services (intangible).
Common Mistakes:
MISTAKES- Confusing visible trade with services (invisible) or capital transactions.
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