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You will hear both sides of the argument. People will say yes we should stop buying goods from other countries because we need to bring jobs back home and create our own products. Others will say no we shouldn't stop buying goods from other countries because we can save tons of money by using cheap labor from underdeveloped countries; it will be too expensive to make products in our own country compared to these countries we currently use laborers from.
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∙ 12y ago
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Does buying goods from other countries hurt the economy?
No, the economy is built on trade and the circulation of money, by buying the goods you help the economy. By supporting a developing country's goods by buying them you help create demand for their industries and thus support their economy.
What has been result of the US buying so many goods from other countries?
Increased unemployment in the United States
How much do goods cost in other countries?
It depends on what kind of goods, and the quantity of goods - and what other countries!
Advantages of bilateral trade?
a nation should produce and sell goods to other countries that it produces most efficiently and buy goods produced more efficiently by other countries
What is buying products from other countries called?
Buying products from other countries is called importing
What is a theory that a country should sell more goods to other countries than it buys?
mercatilism
What is trading goods to other countries called?
The word "export" is the noun and verb meaning goods sent in trade to other countries. The word "import" refers to goods received (purchased) from other countries.
When an economy is so rich that it can provide goods to other countries it establishes a system of sending the goods to them in other words its what the goods?
It's called exporting goods to different countries.
How is a mother country benefited from the trading links with its colonial countries?
The other colonial countries are exporting goods from each other so everytime they get goods from other countries, they're basically returning the favor of goods.
What has been the result of the United states buying so many goods from other countries?
increase in unemployment in the united states
What are imports and exports and why are they important?
How economy relies on this section. America needs other countries to by our goods just as other countries need sus to by there goods. The Imports exports is an important econoic indicator that the world ecomy is doing good. If everyone's buying each others stuff then the economy is doing good.
What is the theory that states a country should sell more goods to other countries than it buys?
mercatilism
