The value of goods and services bought and sold in the world market is often referred to as .

Question

Quizplus · Accepted Answer

The value of goods and services bought and sold in the world market is known as the balance of trade. It refers to the difference between a country's exports and imports. If a country exports more than it imports, it has a surplus, and if it imports more than it exports, it has a deficit. The balance of trade is an important economic indicator as it can affect a country's currency exchange rates and its overall economic health.

The Value of Goods and Services Bought and Sold in the World