Asked by
Caprice Diggs
on Nov 03, 2024Verified
Selling domestically produced goods and services in foreign countries refers to importing.
Importing
The process of bringing goods or services into a country from abroad for sale.
Domestically Produced
Referring to goods manufactured or services provided within a country’s borders, as opposed to imported from other countries.
Foreign Countries
are nations other than one's own, encompassing different governments, cultures, languages, and geographic locations outside of a person's native country.
- Understand the mechanisms of trade, including exporting, importing, and countertrade.
Verified Answer
NM
Learning Objectives
- Understand the mechanisms of trade, including exporting, importing, and countertrade.