When a Nation Starts Importing a Good or Service,the Domestic

question 93

Multiple Choice

When a nation starts importing a good or service,the domestic production of the good or service

• A) decreases.
• B) stays the same.
• C) increases.
• D) might change, but more information about what the country exports is needed to determine if production increases, decreases, or does not change.
• E) might change, but more information about what else the country imports is needed to determine if production increases, decreases, or does not change.

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Definitions:

Grit

A personal quality that combines resilience, determination, and perseverance toward long-term goals, despite obstacles or failures.

Entrepreneurs

Individuals who initiate, manage, and assume the risks of a business venture.

Startup

A young company founded to develop a unique product or service, bring it to market, and make it scalable, often characterized by innovation and rapid growth.

Grit

A character trait characterized by perseverance and passion for achieving long-term goals, often associated with resilience and determination.