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Questions and Answers
What is import trade classified as?
What is import trade classified as?
- A type of Foreign or International Trade (correct)
- Export Trade
- Foreign or International Trade
- Entrepot Trade
Why are goods normally imported?
Why are goods normally imported?
- When the receiving country has the technology to manufacture the goods
- When the manufacture of goods in one country is significantly lower than it would be in the receiving country (correct)
- When the goods are not needed in the country of origin
- When the demand for the goods is high in the receiving country
What is an example of a good that cannot be manufactured in a desired country?
What is an example of a good that cannot be manufactured in a desired country?
- Furniture
- Electronics
- Clothing
- Crude oil (correct)
Who is known as the seller of the goods or service in export trade?
Who is known as the seller of the goods or service in export trade?
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What is entrepot trade also known as?
What is entrepot trade also known as?
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What is an example of entrepot trade?
What is an example of entrepot trade?
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What is one reason for entrepot trade?
What is one reason for entrepot trade?
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What is the benefit of entrepot trade in terms of international relations?
What is the benefit of entrepot trade in terms of international relations?
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