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What is meant by the term export? (2) - Edexcel - GCSE Business - Question 5 - 2018 - Paper 1
Question 5
What is meant by the term export? (2)
Worked Solution & Example Answer:What is meant by the term export? (2) - Edexcel - GCSE Business - Question 5 - 2018 - Paper 1
Step 1
What is meant by the term export?
Answer
The term 'export' refers to a good sold to another country that leads to payments to the UK. An accurate understanding of the term suggests that it involves the selling of products or services across international borders. For example, the Snowdonia Cheese Company plans to sell its cheese to buyers in America.