Differentiate between export, import and entrepot. - SS1 Commerce Past Questions and Answers - page 1
What does export refer to?
Buying goods and services from foreign countries
Selling goods and services to foreign countries
Importing and re-exporting goods to other countries
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What does import refer to?
) Selling goods and services to foreign countries
Buying goods and services from foreign countries
Importing and re-exporting goods to other countries
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What is the primary purpose of entrepot trade?
Buying goods and services from foreign countries
Selling goods and services to foreign countries
Serving as a transit point for importing and exporting goods between countries
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In export, which direction do goods and services typically move?
From domestic to foreign markets
From foreign to domestic markets
Between two foreign countries
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In import, which direction do goods and services typically move?
From domestic to foreign markets
From foreign to domestic markets
Between two foreign countries
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Explain the difference between export and import in your own words.
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Describe the purpose of entrepot trade.
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