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Igoryamba
1 year ago
11

If the total value of goods exported from a nation is less than the total value of goods imported to the nation, the nation is e

xperiencing a?
Business
1 answer:
kompoz [17]1 year ago
8 0

If the total value of goods exported from a nation is less than the total value of goods imported to the nation, the nation is experiencing a Trade deficit.

The difference between imports and exports is known as the trade deficit or negative balance of trade (BOT). A trade deficit develops when an economy spends more on imports than on exports. It can be computed for various commodities and services as well as for cross-border transactions.

The difference between the monetary value of a country's exports and imports over a specific time period is known as the balance of trade deficit, commercial balance, or net exports. A distinction between a trade balance for products and one for services is occasionally drawn.

Learn more about trade deficit here

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snow_tiger [21]

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Purely competitive market refers to a marketing situation in which there are a large number of sellers of a product which cannot be differentiated selling a standardized product and therefore, no single firm has a significant influence on the product price. It is characterized, furthermore, by ease of entry for new companies into the market and perfect market information. Hence, the sellers in such a market are considered to be price takers. Examples of purely competitive market are agricultural products such as wheat or corn.

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