The Table Below Shows the Quantity Demanded (In Thousands) and Quantity

question 1

True/False

The table below shows the quantity demanded (in thousands) and quantity supplied (in thousands) of computers in the U.S. and Canada at different prices.Table 20.5

-The simultaneous import and export of goods in the same industry by a particular country is known as interindustry trade.

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Definitions:

Subsidy

Financial support provided by the government to businesses, individuals, or other entities, aimed at promoting economic activities or ensuring the affordability of basic goods.

Tariffs

Taxes imposed by a government on imported goods in order to protect domestic industries or to generate revenue.

Quotas

A quota is a government-imposed trade restriction that limits the number or monetary value of goods that can be imported or exported during a specified period.

Free Trade Agreements

Treaties between two or more countries to establish a free trade area, where commerce is conducted without tariffs or restrictions.