Which of the following is the term describing very similar
Products being exported and imported by trading partners?
A)reciprocal trade
B)imperfect competition
C)intraindustry trade
D)interindustry trade

Question

Which of the following is the term describing very similar
Products being exported and imported by trading partners?
A)reciprocal trade
B)imperfect competition
C)intra­industry trade
D)inter­industry trade

Quizplus · Accepted Answer

Intra-industry trade refers to the exchange of similar products between trading partners. This can be seen in industries such as automobiles, where countries both import and export cars to each other. Reciprocal trade refers to the mutual agreement to lower trade barriers between two countries. Imperfect competition refers to a market structure where there are a limited number of sellers and barriers to entry for new competitors. Inter-industry trade refers to the exchange of goods between industries that produce different products, such as the exchange of cars for agriculture products.

Which of the Following Is the Term Describing Very Similar