What Are Exports

question 103

Multiple Choice

What are exports?

• A)a limit placed on the quantity of goods brought into a country.
• B)goods produced abroad and sold domestically.
• C)a country's ability to produce a good.
• D)goods produced domestically and sold abroad.

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Definitions:

Total Spending

The aggregate amount of money spent by households, businesses, and the government on goods and services within a certain period.

Invention

The conception of a new product or process combined with the first proof that it will work.

Innovation

The process and outcome of creating something new or improved, including products, services, processes, or business models, that adds value.

Marginal Cost

The expense for creating a supplementary unit of a product or service.