Question

Which goods will a nation typically import?

Answer 1

Explanation:

Each and every nation does import the goods from all over the world which they need for consumption of their citizens or the business needs for selling in their nation. But typically the nation will imports the goods in which other have comparative advantage since the tariff and excise will affect the cost of import goods. The another country will have comparative advantage in producing those goods so the importing country will benefit from it as cost is comparatively lower than other exporting countries. Since lower costing goods will be benefitted importing country and they have to spend less on import duties.