Value of exports of goods
A country’s balance of trade is Rs. 75 crores. The value of imports of goods is Rs. 100 crores. What is the value of exports of goods?
Expert
Balance of trade = value of exports – value of imports
75 = value of exports – 100.
That is, Value of exports = 100 + 75
= Rs. 175 crores.
Quantity of a good: The quantity of a good which buyers demand is found out by the price of the good, income, the prices of associated goods, expectations, tastes, and the number of buyers.
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