Detailed explaination of imports and exports

Economics
Tutor: None Selected Time limit: 1 Day

Help

Apr 19th, 2015

Imports means goods coming into a country and export means goods going out of a country. The scale of imports and exports depends on currency of a country because higher currency lowers the level of export.

Generally imports are impacted by people's affordability of foreign goods.  For example, rich countries like USA, Japan and China have large imports.  Another reason to import goods is that a country does not produce or manufacture these goods.  For example, India imports oil because it has very low oil production.

Exports depends on low prices.  So developing countries have high level of export because their labor cost is low and as a result, they can offer goods at competitive prices.  Sometimes some country dump their cheap goods into a country to help their manufacturers by subsidizing the goods.  At other times, exports is used as a political weapon.  For example, during 1972 oil embargo, Saudi Arabia wanted to exercise control over  US political decisions.

Apr 20th, 2015

Thank you so much you are so smart and you saved my grade from failing this means a lot. Keep In Touch.

Apr 20th, 2015

Did you know? You can earn $20 for every friend you invite to Studypool!
Click here to
Refer a Friend
...
Apr 19th, 2015
...
Apr 19th, 2015
Dec 9th, 2016
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer