A product produced in a foreign country and purchased by residents of the home country is ________ for the home country.
A) an export
B) an import
C) savings
D) investment

Question

Quizplus · Accepted Answer

When a product is produced in a foreign country and purchased by residents of the home country, it is classified as an import. An export refers to a product produced in the home country and sold to a foreign country. Savings and investment are not related to international trade.

A Product Produced in a Foreign Country and Purchased by Residents