Advantages of Imports and Exports for an Economy

Question

The purpose of this question is to become familiar with the terms import and export, and then discuss advantages or disadvantages of buying imports versus buying domestic products in relation to the fashion industry.
First, post the definitions of import and export, and give examples of a chosen company and product for 1 import and 1 export item.
Advocate either buying imports or buying domestically for retailing the item.
Describe in detail 2 arguments to defend your point of view.

Summary

The question belongs to Economics and it is about imports and exports. How imports and exports can have an impact on the economy. And the impact of imports and exports have been discussed in the solution along with some examples.

Total Word Count 499

 

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