A(n)________ is any good that is produced domestically but sold abroad,and a(n)________ is any good that is produced abroad but sold domestically.

Question

Quizplus · Accepted Answer

An export is a good produced domestically but sold abroad, while an import is a good produced abroad but sold domestically. Choice C would be incorrect as it has the opposite order. Choices A and B are incorrect as they refer to the nature of the good (public or private) rather than where it is produced and sold.

A(n)________ Is Any Good That Is Produced Domestically but Sold