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) intra-industry trade
D) inter-industry trade

Question

Quizplus · Accepted Answer

Intra-industry trade refers to the trade of very similar products between trading partners. The products traded might be differentiated in terms of quality, design, or marketing, but they are still similar enough to be considered part of the same industry. Reciprocal trade refers to an agreement in which two or more countries agree to reduce or eliminate barriers to trade with each other. Imperfect competition refers to a market structure in which there are a limited number of sellers or buyers, which allows them to exert some control over the price. Inter-industry trade refers to the trade of products from one industry to another.

Which of the Following Is the Term Describing Very Similar