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Subjects

Economics

Foreign trade

In this Class 12 Economics topic, students examine the role of foreign trade in India’s development experience from 1947–90 and after the economic reforms of 1991. They learn how exports and imports connect the Indian economy with global markets, how trade influences production, employment, foreign exchange and economic growth, and why trade policy changed from controls and protection to greater openness. The topic also helps students understand trade liberalisation within the broader context of economic reforms.

Easy · Level 1 · 1 questions

Practice questions

01What does an open economy mean in macroeconomics?

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