If a Country Is a Net Importer of a Good

question 49

Multiple Choice

If a country is a net importer of a good, the price of that good will ________ when the economy goes from closed to open for trade.

• A)increase
• B)stay the same
• C)first increase then decrease
• D)decrease

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Definitions:

SWOT Analysis

The step of strategic planning in which the managers identify the internal strengths and weaknesses of a business and the opportunities and threats that exist outside the business.

Strategic Planning

The process of defining a company's direction and making decisions on allocating its resources to pursue this strategy.

Internal Strengths

Unique capabilities within an organization that provide it with a competitive advantage in its industry.

Good Management

The practice of effectively and efficiently leading and organizing resources, including people, to achieve the goals of an organization.