29 Questions
What is one of the main purposes of the export and import industry mentioned in the text?
Introducing the country to the global market
Why can a country not depend solely on its domestic market?
Limited population size and less demand
What is emphasized as crucial for successful trading between governments and partners in the export and import industry?
Good diplomatic ties
Why might a country export semi-finished goods to other countries, as mentioned in the text?
For further processing into finished goods
How does the export and import industry contribute to increasing a country's income, according to the text?
By increasing foreign exchange
What main benefit does introducing a country to the global market through export and import activities provide, based on the text?
Boost in economic growth and opportunities
What contributes to a country exporting more than it imports?
High demand for its goods
Which sector contributes significantly to Malaysia's GDP?
ICT (Information and Communications Technology)
What does an outflow of funds from a country typically represent?
Importation of goods
Which factor is driving the demand for U.S. technologies in Malaysia?
Development of connectivity and 5G ecosystems
What is the expected growth in ICT spending in Malaysia by 2023?
$25.2 billion
How does a country with high demand for its goods affect its currency's value?
Increases the value of its currency
Why is exporting goods important for a country?
To boost economic indicators and job growth
What is a disadvantage of trade business mentioned in the text?
Leads to over-specialization
How do Free Trade Agreements benefit American exporters?
By providing better market access and lower tariffs
What purpose does the CUSTOM TAX serve according to the text?
Impose taxes on imports and exports for state revenues
Which statement about Malaysia's import taxes is TRUE based on the text?
Malaysia is part of a complete free trade area with five other ASEAN Member States
What impact does exporting have on a country's domestic producers according to the text?
Boosts employment opportunities and breaks down domestic monopolies
What is a key factor a country considers before entering the export business?
The potential market size of the country
Why do countries need to import goods according to the text?
Due to lack of availability in the domestic market
How can exporting lengthen a product's lifecycle?
By developing new customers in emerging markets
What is a potential effect of imports mentioned in the text?
Lower prices for consumers
Why is it important for a country to have good transportation and telecommunication facilities for export business?
To facilitate the movement of goods and information
What kind of advantage does exporting provide to businesses according to the text?
Opportunity to develop new customers and expand sales
What does a country experience when it imports more than it exports?
Trade deficit
What is the impact of implementing a subsidy paid to domestic producers?
Increased domestic production
What does a country experience when it exports more than it imports?
Trade surplus
Which of the following is an item that is prohibited from exportation in Malaysia?
Endangered species products
What aspect should be considered before entering into the trade business?
Cultural differences
Explore the key considerations before venturing into export business, including factors like location, transportation facilities, trade partner background, laws and regulations, market potential, and more. Understand what prompts a country to import goods as well.
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