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InterviewSolution
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Explain the term ‘size of international trade’. |
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Answer» The total value and volume of merchandise (goods) and services that a country imports and exports is known as size of foreign trade or say size of international trade. Every successive year, if the payments made towards imports and revenues generated from exports rise as well as the percentage of trade value rises in national income and the share of a country’s trade in world trade rises , then it can be concluded that the size the county’s foreign trade has increased. |
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