Question

Which describes the difference between a trade surplus and a trade deficit?

Answer 1

The Answer is

A) A trade surplus is when a country exports more than it imports, while a trade deficit happens when imports exceed exports.

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Answer 2

Deficit actually means deficiency or less, while surplus means abundance or more. In financial terms, trade deficit means that the imports of a country or a region are more than its exports; hence the overall trade worth of the respective country or region decreases with passage of time. While trade surplus means that the country or a region exports are greater than its imports, hence the overall trade worth of the respective country or region increases with passage of time.