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3 cards from this section. Quick, good the night before a test.
Define international trade.
Think about trade that crosses national borders.
What is an export?
Consider what happens when you sell products overseas.
What is the main reason behind the growth of India's trade?
Focus on sectors that help in creating products for trade.
India has a trade deficit when:
Consider when you spend more money than you receive.
Assess the impact of liberalizing trade policies on India's trade volume and composition over the past decade.
Consider the effects of less regulation on business operations.
Evaluate the reasons for a sustained trade deficit despite growing exports.
Think about essential imports that aren't easily substituted.
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