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WAEC Economics 2014 Paper
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© africaexams.com
Question : 33
Total: 47
Which of the following is not a reason countries import goods?
Differences in natural endowments
the law of absolute advantage
Differences in tastes
The love for other nations
Validate
Solution:
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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