Goods and services that we buy from other countries are our

Question

Quizplus · Accepted Answer

Imports refer to goods and services that a country purchases from other countries, so option C is the correct choice. The balance of payments (option A) is a broader concept that includes all transactions between a country and the rest of the world, including exports, imports, and financial transactions. Exports (option B) refer to goods and services that a country sells to other countries. Terms of trade (option D) refers to the ratio at which a country can trade its exports for imports, and comparative goods and services (option E) is not a relevant concept in this context.

Goods and Services That We Buy from Other Countries Are