Economics · Economics

When does a situation of 'favorable balance of trade' occur?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1When there is no trade.
2When imports and exports are equal.
3When the value of exports is more than imports.✓
4When the value of imports is more than exports.

Correct answer

When the value of exports is more than imports.

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