Which of the following reasons best explains U.S. imports of crude oil from Saudi Arabia and diamonds from South Africa?

Question

Quizplus · Accepted Answer

The differences in resource endowments between countries can lead to one country being able to produce certain goods more efficiently and at a lower cost than another. This is likely why the U.S. imports crude oil from Saudi Arabia and diamonds from South Africa, as these countries have large deposits of these resources.

Which of the Following Reasons Best Explains U