Question

Which of the following is defined as the flow of goods and services among different countries long—the total value of all the exports and imports of the world's nations?

Option 1: Gross Domestic Product (GDP).
Option 2: Balance of Trade.
Option 3: Trade Deficit.
Option 4: World Trade.

Answer 1

World Trade is defined as the flow of goods and services among different countries, representing the total value of all exports and imports of the world's nations.

Step-by-step explanation:

The correct option that is defined as the flow of goods and services among different countries long—the total value of all the exports and imports of the world's nations is World Trade. International trade refers to the exchange of goods and services across national borders. It plays a significant role in a country's Gross Domestic Product (GDP) and is influenced by factors such as industrialization, globalization, and the growth of multinational corporations.