Question

How does an increase in the number of product varieties benefit an importing country?

How does an increase in the number of product varieties benefit an importing country?

Homework Answers

Answer #1

Answer: Global trade in the form of Import from various destinations(Countries) brings in different variations of a single commodity. This provides customers with a broader range of options that will not only boost their quality of life but will help the country develop as a whole as well.

Example: Dubai has emerged as a tourist destination for shopping, as Dubai imports variety of goods from across the world and attracts tourists for a  shopping destination.

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