If a nation begins to trade, it will wish to buy (import)
The product for which its own relative price is:
A)lower than other nations.
B)higher than other nations.
C)the same as other nations.
D)less than 10% of the value of other nations.

Question

Quizplus · Accepted Answer

A nation will wish to import products for which its own relative price is higher than other nations, as it is more cost-effective to buy these goods from abroad where they are cheaper.

If a Nation Begins to Trade, It Will Wish to Buy