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Foreign Trade and Investment - Class XI
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What do you mean by Trade in Services?
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A
Exchange of services between residents and non-residents of an economy.
💡 Explanation:
Trade in Services refers to the sale and delivery of an intangible product, called a service, between a producer and consumer. Trade in services that takes place between a producer and consumer that are, in legal terms, based in different countries is called International Trade in Services.