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Which of the following is not a reason countries import goods?

Economics
WAEC 2014

Which of the following is not a reason countries import goods?

  • A. Differences in natural endowments
  • B. the law of absolute advantage
  • C. Differences in tastes
  • D. The love for other nations
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Correct Answer: Option D
Explanation

Reasons for importing goods might include:

  • Meeting customer demand.
  • Sourcing products that don't exist in the country's borders.
  • Cost of importing is lower than the cost of manufacturing.
  • Quality of the product is better when imported.
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