(Answered) A nation’s ________Blank can be best defined as the difference in value between its exports and…

➤ Why does a country run a trade deficit or surplus?
A country runs a deficit or surplus due to relative prices, competitiveness, and domestic demand. Strong currency, high consumer spending, or weak export industries often cause deficits. Surpluses arise from competitive industries, weak local demand, or export-oriented policy. Trade policy, tariffs, exchange rates, and global supply chains also shape the balance.