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Michael Singleton
on Oct 25, 2024

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If a market begins to engage in international trade,we can assume that:

A) producers in the exporting industry may be worse off.
B) consumers of the imported good may be worse off.
C) consumers of the exported good may be better off.
D) producers in the importing industry may be worse off.

Exporting Industry

A sector of a country's economy that produces goods or services for sale abroad.

Imported Good

A product or service that is brought into one country from another and offered for sale.

Exported Good

A product manufactured in one country but shipped and sold abroad, contributing to a country's foreign trade balance.

  • Understand the concept of international trade and its impact on both importing and exporting countries.
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JH
Julia HamiltonOct 31, 2024
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