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Why countries export goods?
countries export goods so they can pay for what they imported
What was the main idea behind mercantilism?
export more goods than are imported
What statement best describes the theory of mercantilism?
export more goods than are imported.
What is export level of production?
Export level production is the production of goods and services for the sole purpose of exporting
What are the difference between the import expenditure and the export expenditure in the economy?
Import expenditure refers to the money spent on imported goods. It is an expenditure because it refers to capital outflow. Export expenditure is the money spent on semi-finished goods, used for export.
Why countries export goods?
countries export goods so they can pay for what they imported
What is the main purpose of tariffs on imports?
Tariffs provide revenue for the country buying the imported goods. If a country wants to export goods to a country, they have to pay a tariff(tax) to be allowed to do so. China pays very low tariffs to the US on the goods they export to us.
What was the main idea behind mercantilism?
export more goods than are imported
What best describes the theory of the mercantilism?
export more goods than are imported.
What is entrepot trade?
When goods are imported for export to other countris, it is known as entreport trade
What statement best describes the theory of mercantilism?
export more goods than are imported.
What are goods brought into a country?
Exporting is sending goods out of a country. Importing is bringing goods into a country.
A tax on imported goods are called?
A tariff
What is export level of production?
Export level production is the production of goods and services for the sole purpose of exporting
What are the difference between the import expenditure and the export expenditure in the economy?
Import expenditure refers to the money spent on imported goods. It is an expenditure because it refers to capital outflow. Export expenditure is the money spent on semi-finished goods, used for export.
How would countries attempt to maintain a favorable trade balance?
They would export more goods than they imported.
How would countries attempt to maintain favorable trade balance?
They would export more goods than they imported.
