Growth, Development, and the Global Economy
Please use your own experiences and the knowledge you have gained from this week’s readings to answer the following topics and questions. You may also use information that you find in the textbook, AIU’s library or the Internet to support your discussion. Make sure you use economic concepts in your main contribution.
The purpose of this assignment is to understand the terms import and export, and then explain the advantages or disadvantages of buying imports rather than buying domestic products. You could, for instance, write about an imported automobile, stereo, or household appliance that you bought or considered buying. Include all of the following points in your discussion.
If you were a retailer, would you want to sell domestically made goods or imported items? Please explain why you made this choice.
If you wanted to sell a good or service to customers in other countries, what sorts of items do you think you could export?
In your opinion, should the United States’ Federal Government support companies that want to enter export markets? Please explain.