Goods and services that are produced in a foreign country but consumed domestically are called:

Question

Quizplus · Accepted Answer

Imports are goods and services that are produced in a foreign country but consumed domestically. Exports refer to goods and services that are produced domestically and sold in foreign markets. Investment goods and consumer durables refer to different types of products and do not specifically relate to foreign production and domestic consumption.

Goods and Services That Are Produced in a Foreign Country