Question
Download Solution PDFIn terms of economy, the visit by foreign nationals to witness the XIX Common Wealth Games in India amounted to
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is Export.
Key Points
- Exports are goods and services that are produced in one country and sold to buyers in another.
- The visit of foreign nationals to India amounted to export as
- Foreign nationals will buy Indian goods and use Indian services.
- Also, India will get foreign currency.
- The visit of foreign nationals to India amounted to export as
- An import is a good or service bought in one country that was produced in another.
- Suppose a citizen of the US buying goods and services in India, then it amounted to Import for The US. Because its citizen is buying goods and services from another country.
- Production - the process of making or growing goods to be sold.
- Consumption - the amount used or eaten.
Last updated on Jul 17, 2025
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