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What determines the types of goods that a country imports and exports?

What determines the types of goods that a country imports and exports?

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Answer #1

The type of good a country imports or exports depend on the opportunity cost of the goods in the country relative to other countries. If a country produces a good at a lower opportunity cost than other countries, then the country has a comparative advantage in the good and it would export the good. On the other hand, if a country produces a good at a higher opportunity cost than other countries, then the country does not have a comparative advantage in the good the good and it would export the good.

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