ENTREPRENEURSHIP AND THE GLOBAL ECONOMY
EXPORTING AND IMPORTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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We Want to Learn a New Language
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Big Companies Don’t Make Enough Money in Their own Country
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Not Enough Resources
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None of the Answers are Correct
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Detailed explanation-1: -A trade surplus contributes to economic growth in a country. When there are more exports, it means that there is a high level of output from a country’s factories and industrial facilities, as well as a greater number of people that are being employed in order to keep these factories in operation.
Detailed explanation-2: -While importing products can help businesses reduce costs, exporting products can ensure increasing sales and sales potential in general. Businesses that focus on exporting expand their vision and markets regionally, internationally or even globally.
Detailed explanation-3: -Countries are most likely to import goods or services that their domestic industries cannot produce as efficiently or cheaply as the exporting country. Countries may also import raw materials or commodities that are not available within their borders.
Detailed explanation-4: -Exporting can be profitable for businesses of all sizes. On average, sales grow faster, more jobs are created, and employees earn more than in non-exporting firms. Competitive Advantage. The United States is known worldwide for high quality, innovative goods and services, customer service, and sound business practices.
Detailed explanation-5: -Lack of Knowledge on Exchange Rates. Lousy Relationship With Customs Officials. Making a Bribe. Being Clueless About Import Restrictions or Control on a Product. Failure to Conform to Packaging, Marking, and Language (Localization) Laws. More items •03-Nov-2019