Availability is a factor affecting imports. We import goods from abroad because they are unavailable in the domestic market. For example, the domestic economy does not produce them because the geographical location does not support them. Another
Trade Policy
Trade Blocs: Meaning, Types, Pros, and Cons
What's it: A trade bloc is a group of countries joined together through a trade agreement. Typically, this involves countries in a particular region, for example, the ASEAN Economic Community in Southeast Asia, the European Union in Europe, and NAFTA