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Exporting vs. Importing

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If a nation exported much of its output but imported little, would it be better or worse off? How about the reverse of exporting little but importing lot?

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If a nation exported more than it imported, it would create a trade surplus. This would be advantageous to the country. If the country imported more than they exported (as many nations currently do), it would create a trade deficit. Basically, when a country imports more than the ...

Solution Summary

This solution explains if it would be better or worse for a nation to export more than it imports. We also discuss the consequences/benefits if the opposite were true.

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Imports vs Domestic Buying

Discuss advantages or disadvantages of buying imports versus buying domestic products in relation to the fashion industry. (you do not have to choose the fashion industry)

1. First, list the definitions of import and export, and give examples of a chosen company and product for 1 import and 1 export item.
2. Advocate either buying imports or buying domestically for retailing the item.
3. Describe in detail 2 arguments to defend your point of view.

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