Economic Awareness - Sectors of Indian Economy
When a country’s exports of goods exceed its imports of goods, it is said to have a:
When a country’s exports of goods exceed its imports of goods, it is said to have a:
easy Q12 of 15
Step-by-Step Solution
Step 1: Understand the terminology
Trade Surplus occurs when exports exceed imports of goods.Step 2: Analyze options
Trade Deficit is the opposite condition. Balance of Payments and Current Account relate to broader measures including services and capital flows.Final Answer:
Trade Surplus → Option DQuick Check:
Trade Surplus = exports > imports of goods ✅
Quick Trick: Trade Surplus = Positive Balance of Trade.
Common Mistakes:
MISTAKES- Mixing trade surplus with current account surplus or balance of payments surplus.
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