Refer to the information provided in Figure 20.3 below to answer the question(s) that follow. Figure 20.3
-Refer to Figure 20.3. The domestic price of shoes is $80. After trade the price of a pair of shoes is $60. After trade this country will ________ 300 pairs of shoes.
A) buy
B) sell
C) import
D) export

Question

Refer to the information provided in Figure 20.3 below to answer the question(s) that follow.  Figure 20.3
-Refer to Figure 20.3. The domestic price of shoes is $80. After trade the price of a pair of shoes is $60. After trade this country will ________ 300 pairs of shoes.
A) buy 
B) sell 
C) import 
D) export

Quizplus · Accepted Answer

When the domestic price of a product is higher than the world price, the country will import that product to meet its demand at the lower price.

Refer to the Information Provided in Figure 20