Balbharati solutions for Economics HSC 12th Standard Maharashtra State Board
Chapter 10: Foreign Trade of India
Q.2.Identify and explain the concept from the given illustration:
1. India purchased petroleum from Iran.
Ans: - Import Trade – (Type of foreign trade)
Explanation:
a. Import trade refers to the purchase of goods and services by one country from another country or inflow of goods and services from a foreign country to the home country.
b. For example, India imports petroleum from Iraq, Kuwait, Saudi Arabia, etc.
