Which term refers to goods and services sold to other countries?

• A. Exports
• B. Tariffs
• C. Quotas
• D. Imports

Answer: (A)

Verified step by step guidance

1. Understand the key terms related to international trade: 'Exports', 'Imports', 'Tariffs', and 'Quotas'.
2. 'Exports' are goods and services produced domestically and sold to other countries.
3. 'Imports' are goods and services bought from other countries and brought into the domestic market.
4. 'Tariffs' are taxes imposed on imported goods to protect domestic industries or generate revenue.
5. 'Quotas' are limits on the quantity of goods that can be imported or exported during a specific time period.