Question

A ship "A" brings metals of different kinds into India, while another ship "B" takes spices across the sea to Bangkok. What are these trades between different countries called?

• A. Export and import respectively
• B. Import and export respectively
• C. Barter and exchange respectively
• D. Exchange and barter respectively

Answer 1

The correct option is B Import and export respectively

When ship "A" brings in different kinds of metals into a country, the country is said to have imported the goods in order to make it available to its people. Whereas, when a country sends goods to another country, it is said to be an exporter. Countries typically import those goods that are in demand and are not available in abundance within its territory. It usually exports goods that are available in abundance and are in high demand in other countries around the world. Money, as a medium of exchange is involved here. The barter system, on the other hand, is a process in which direct exchange of goods or services happen, without any means like money involved in the process.