If a country did not import any goods and sold only what was produced within their borders, which of the following would likely occur?

Question

Quizplus · Accepted Answer

Without imports, consumers would have fewer choices since only domestically produced goods would be available, leading to a decrease in product variety. Prices on goods could increase due to the lack of competition from foreign products, potentially leading to monopolies or oligopolies in certain sectors. Additionally, some types of products that cannot be produced domestically due to climate, expertise, or resource constraints wouldn't be available at all.

If a Country Did Not Import Any Goods and Sold