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Explain why international trade and specialization result in lower prices (and more domestic consumption) for imported products and higher prices (and less domestic consumption) for exported products.?
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What is the surplus level of production?
Developed countries have a wide variety of resources and exploit these to the fullest. Advanced technology allow full use of resources. These countries reach a level of production which satisfies their domestic consumption and a surplus to be exported to other countries.
What is the contribution of services to GDP?
The gross domestic product (GDP) or gross domestic income (GDI) is one of the measures of national income and output for a given country's economy. It is the total value of all final goods and services produced in a particular economy; the dollar value of all goods and services produced within a country's borders in a given year.The most common approach to measuring and quantifying GDP is the expenditure method: GDP = consumption +gross investment + government spending + (exports − imports), Services would come under both consumption and exports. consumption would have the services offered to the local people and exports would have the services exported to other nations.
What food is exported and imported from the UK?
i think corn was exported from the united kingdom.
Would the money received for American cars exported to Italy be part of the US gross domestic product?
Yes Gross domestic product is the amount of money made in one year by selling stuff for the first time. (as in, garage sales sell used stuff that's already been bought. That stuff doesn't count) It doesn't matter where we sell the stuff.
What goods are majorly imported and exported by Jamaica?
Five Majorly Exported goods:AluminaBauxiteSugarRumBananasSix Majorly Imported Goods:MachineryTransport EquipmentConstruction MaterialsFuelFoodChemical
What is the surplus level of production?
Developed countries have a wide variety of resources and exploit these to the fullest. Advanced technology allow full use of resources. These countries reach a level of production which satisfies their domestic consumption and a surplus to be exported to other countries.
How is uranium exported?
In very restrictive conditions, under international control and under the surveillance of IAEA.
What is the contribution of services to GDP?
The gross domestic product (GDP) or gross domestic income (GDI) is one of the measures of national income and output for a given country's economy. It is the total value of all final goods and services produced in a particular economy; the dollar value of all goods and services produced within a country's borders in a given year.The most common approach to measuring and quantifying GDP is the expenditure method: GDP = consumption +gross investment + government spending + (exports − imports), Services would come under both consumption and exports. consumption would have the services offered to the local people and exports would have the services exported to other nations.
Is American dental equipment exported?
U.S. manufacturers controlled roughly half of the international market for dental equipment and supplies.
What is the most inexpensive car in the world?
maybe a lamborghini i don't know To purchase? India is producing or about to produce a car for I believe $2,400 or something in that range. That is for local consumption, they will be more when exported.
What does share of expenditure means?
I learned that term in my International Economics course. In the example that was given to us, there was an economy where only two goods were traded. All consumption was consequently spent on these two goods, one of them being imported and the other one being exported. If 20% of total spending went to the imported goods, the share of expenditure is consequently 0.2.
When was oil first exported?
i dont know when it was exported but i do know how much they exported, the exported more than 140,000 thousand pounds of oil
A warehouse for commercial goods or a trading centre at which goods are imported and re-exported?
Entrepot. This question is also in International Express crossword. April 8th
When natural gas is exported to other countries it changes between which physical states?
Liquified Natural Gas (LNG) is natural gas which has undergone a phase change from gas to liquid in order to reduce volume so that it may be economically exported across international borders.
How was Brazil's economy before they started to export?
Brazil has always exported what happened was a hit in the domestic economy was not heading in the right way and combined with internal clashes so the economy suffered
What are the main crops grown in the US?
Ninety percent of the crops in the US are corn, soybeans, wheat, hay and cotton. Some of these crops are strictly domestic while some are exported.
How are goods exported in Argentina?
They are exported by ships, trains and trucks.
