Which of the following statement is incorrect 

A. Export and import are the components of the trade. 

B. The balance of trade of a country is the addition of its export and import.  

C. The exchange of goods among people, states, and countries is referred to as trade 

D. When the value of imports exceeds the value of exports, it is termed an unfavorable balance of trade. 

 

Answer:

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Davneet Singh

Davneet Singh has done his B.Tech from Indian Institute of Technology, Kanpur. He has been teaching from the past 14 years. He provides courses for Maths, Science, Social Science, Physics, Chemistry, Computer Science at Teachoo.