Question

Why does the U.S. import goods it can produce domestically?

Why does the U.S. import goods it can produce domestically?

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Explanation:

- Top most reason that United Stated depends on import because of lower production cost. When other country have the lower production cost for particular product it become very efficient and affordable for US to import that product at lower price than what they produce domestically.

- Another reason to import the product for US is to that they want to save their natural resources for future use. Example: Upon having large number of crude oil source US want to import crude oil is because it want save its resources for future use as when price get higher in international market they can use their own resources.

- US importing some of raw material in order to lower their manufacturing cost, if they can lower the manufacturing cost of by importing that material rather than using domestic material which can increase the price of finished product in local market.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The Leontief Paradox found that U.S. exports were more capital-intensive than U.S. import-competing goods directly contradicting...
The Leontief Paradox found that U.S. exports were more capital-intensive than U.S. import-competing goods directly contradicting the factor-endowment theory. True False
Does import of proteins into mitochondria require chaperones? Why or why not?
Does import of proteins into mitochondria require chaperones? Why or why not?
Unit 7 Assesment - U.S Trade goods Instructions Analyze: United States Goods Trading Evaluation Title: U.S....
Unit 7 Assesment - U.S Trade goods Instructions Analyze: United States Goods Trading Evaluation Title: U.S. Trade Goods In a Microsoft Word document, please complete the following. Countries and economies across the globe have the ability to produce products and goods. Some products are unique to a specific economic market and thus they are able to trade those goods with other markets that want or need that product, resource, or good. Though countries will also trade goods for products that...
15. The type of good with the largest import in the U.S. is: A. capital goods....
15. The type of good with the largest import in the U.S. is: A. capital goods. B. consumer goods. C. industrial goods. D. automobiles. 16. The type of good with the smallest trade deficit in the U.S. based on data from 2016 is: A. foods, feeds, and beverages. B. capital goods. C. industrial goods. D. automotive goods. 17. Countries that have a trade surplus have a: A. positive net capital outflow. B. positive net capital inflow. C. negative net capital...
in economice term what does it mean to say that producer can produce goods more efficiently
in economice term what does it mean to say that producer can produce goods more efficiently
If with one unit of labor the U.S. can produce 20 units of computer software and...
If with one unit of labor the U.S. can produce 20 units of computer software and 10 units of computer hardware and China can produce 5 units of software and 5 units of hardware then Select one: A. the United States has a comparative and absolute advantage in both goods. B. the United States has a comparative advantage in both goods. C. China has a comparative advantage in hardware and the U.S. has a comparative advantage in software. D. China...
The U.S. used to produce a lot of clothing but no longer does. What is the...
The U.S. used to produce a lot of clothing but no longer does. What is the most likely reason for this? Explain A. Demand for clothing increased and U.S. manufacturers couldn’t expand B. Increased U.S. tariffs on imported clothing C. The domestic (U.S.) price of fabric increased D. U.S. consumers prefer foreign-produced clothing Which of the following would create a negative externality? Explain why A. A snowstorm destroys the Florida orange crop. B. The FAA reroutes an airplane landing path...
Which goods will a nation typically import?
Which goods will a nation typically import?
The U.S. real exchange rate appreciates when a U.S. basket of goods can exchange for more...
The U.S. real exchange rate appreciates when a U.S. basket of goods can exchange for more baskets of goods from other countries. a foreign basket of goods can exchange for more baskets of goods from the United States. the number of dollars you need to buy a basket of foreign goods decrease. the number of dollars you need to buy a basket of foreign goods increase.
How Does Ford's Performance Differ in Domestic Market vs. Foreign?? Domestically and India
How Does Ford's Performance Differ in Domestic Market vs. Foreign?? Domestically and India
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT