What are goods and/or services produced within a country and sold overseas called?

What are goods and/or services produced within a country and sold overseas called?

• A. Imports
• B. Exports
• C. Trade Surplus
• D. Foreign Direct Investment

Answer: (B)

Goods and services produced within a country and sold overseas are referred to as exports. This term specifically denotes products that are manufactured or grown domestically and then shipped to foreign markets for sale. Exports play a crucial role in the economy as they contribute to national income, support local jobs, and foster international trade relationships. Understanding exports is essential in studying economic indicators, trade balances, and the global marketplace, as they reflect a country's competitiveness and economic health on an international scale.

Goods and services produced within a country and sold overseas are referred to as exports. This term specifically denotes products that are manufactured or grown domestically and then shipped to foreign markets for sale. Exports play a crucial role in the economy as they contribute to national income, support local jobs, and foster international trade relationships. Understanding exports is essential in studying economic indicators, trade balances, and the global marketplace, as they reflect a country's competitiveness and economic health on an international scale.