Why does a country import goods or services? - Vidyadip

Question

Why does a country import goods or services?

✓

Answer

When domestic cost of production is higher, it becomes cheaper and easier to import such goods from other country.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "2 Marks Each" from FOREIGN TRADE→FOREIGN TRADE — all question types→Economics STD 12 Commerce question papers→Gujarat Board STD 12 Commerce question papers→Gujarat Board question paper generator→

Similar questions

Define Repo rate and Reverse Repo rate?

State different names of Green Revolution.

What is meant by suppressed inﬂation?

Consumption of what determines the living standard as per physical quality of life?

How does industries are helpful to modernize agriculture?

What is meant by nature of imports/ exports?

What is poverty line referred to in India?

When in India population census is conducted?

Mention main conditions of foreign trade.

What has to be done to make the concept of poverty line more progressive in nature?