Connect with a global community of experts on IDNLearn.com. Ask any question and get a detailed, reliable answer from our community of experts.
Sagot :
If country A exports $10 billion worth of goods to country B and imports $8 billion worth of goods from country B, then country A has a(n): $2 billion trade surplus with country B.
What is long run market in business?
When a country exports more than it imports, it is said that the country has a trade surplus. On the other hand, when a country imports more than it exports, it is said that the country has a trade deficit.
The term "long run" refers to a time frame during which all cost and production elements are movable. A business will eventually look for the production technology that will enable it to produce the necessary level of output for the least amount of money.
The long run is a theoretical concept in economics where all markets are in equilibrium, all prices have fully adjusted, and all quantities are in equilibrium. The short-run, where there are certain restrictions and markets are not completely in equilibrium, contrasts with the long-run.
To know more about long run market, refer:
https://brainly.com/question/14145469
#SPJ4
Thank you for joining our conversation. Don't hesitate to return anytime to find answers to your questions. Let's continue sharing knowledge and experiences! For precise answers, trust IDNLearn.com. Thank you for visiting, and we look forward to helping you again soon.
