Imports impact the economy in several aspects. For example, at the micro level, imports affect competition by increasing supply in the domestic
Import
What Are the Factors Affecting Imports?
Availability is a factor affecting imports. We import goods from abroad because they are unavailable in the domestic market. For example, the
Reasons Why International Trade Exists
International trade exists for several reasons. First, differences in demand underlie trade. Certain products we want are not produced in the
What are the Benefits of International Trade?
Increased access to cheaper and more varied goods and services is key benefits of international trade. Thus, it allows us to increase well-being. We
How Exchange Rates Affect Aggregate Demand and the Economy
Exchange rates affect aggregate demand through their effects on exports and imports. Specifically, it affects the relative prices of imported or
Import: Types, Influencing Factors, Impacts
What's it: Import means purchasing goods and services from abroad. For example, Japanese car manufacturers ship and sell their products to the