A country is likely to import a good if its domestic price is high, relative to the world price.

Name: A country is likely to import a good if its domestic price is high, relative to the world price.
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Question

Quizplus · Accepted Answer

If the domestic price of a good is high compared to the world price, it means that it is more expensive to produce the good domestically, while the imported good is cheaper. Therefore, it is more cost-effective for the country to import the good rather than producing it domestically.

A Country Is Likely to Import a Good If Its