Answer :
The statement "Trade involves imports (goods brought into a country) and exports (goods sent out of a country)" is true. Here's why:
1. Trade Definition: Trade is the exchange of goods and services between countries or regions. It involves both imports and exports.
2. Imports: Imports refer to goods and services that are brought into a country from another country. These goods are produced in a different country and are purchased by the importing country.
3. Exports: Exports, on the other hand, are goods and services produced in one country and sent to another country for sale or trade. Exporting goods allows a country to earn revenue and boosts its economy.
In conclusion, trade indeed encompasses both imports and exports. Countries engage in trade to obtain goods and services that they may not produce domestically and to sell their own products in foreign markets. This exchange is vital for the global economy as it promotes specialization, efficiency, and economic growth.
1. Trade Definition: Trade is the exchange of goods and services between countries or regions. It involves both imports and exports.
2. Imports: Imports refer to goods and services that are brought into a country from another country. These goods are produced in a different country and are purchased by the importing country.
3. Exports: Exports, on the other hand, are goods and services produced in one country and sent to another country for sale or trade. Exporting goods allows a country to earn revenue and boosts its economy.
In conclusion, trade indeed encompasses both imports and exports. Countries engage in trade to obtain goods and services that they may not produce domestically and to sell their own products in foreign markets. This exchange is vital for the global economy as it promotes specialization, efficiency, and economic growth.
