Nontradable goods are BEST defined as ________.
A)products and services for which exporting costs are excessive
B)factors of production that exceed safety regulations
C)goods used for national defense
D)products that comprise a portion of the inputs for finished products

Question

Quizplus · Accepted Answer

Nontradable goods refer to products and services that are not easily exportable due to high transportation or transaction costs, making them mostly consumed domestically. Such goods include haircuts, legal services, and mobile phone contracts.

Nontradable Goods Are BEST Defined as ________