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Question
Justify the following statement.
A combination of import-export trade is entrepot trade.
Solution
- Import, export, and entrepot trade are parts of foreign trade.
- When the goods are purchased from other countries it is called import trade.
- When the goods are sold to' other countries it is called export trade.
- A combination of import and export trade is called entrepot trade.
- In the case of entrepot trade goods are first purchased from one country i.e. imported and then sold to or exported to other countries.
- E.g. Indian trader purchased some computers from japan and sold them to Sri Lanka Will be included in entrepot trade
- Thus, entrepot trade is a combination of import and export trade.
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