Question

refers to the process in which a home country buys goods and services from foreign countries.

• A. Importing
• B. Exporting
• C. Capital formation
• D. Investment

Answer 1

The correct option is A Importing

The process in which a country buys goods and services from foreign countries is known as importing. Similarly, the process in which a country sells goods and services to foreign countries is known as exporting. For example, when India buys oil from Iraq, it means that India is importing oil from Iraq and Iraq is exporting oil to India.