Who Gains from Imports? How Do They Gain? Who Loses

question 21

Essay

Who gains from imports? How do they gain? Who loses? How do they lose? Does the overall economy gain or lose from imports?

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Definitions:

Fraud

The intentional deception or misrepresentation made by a person or entity to gain an unfair advantage or to harm another party's interests.

Rectification

The process of correcting or making right an error, especially in legal documents.

Voidable

A term describing a contract or transaction that remains valid until one party takes action to void it, often due to elements like fraud or misrepresentation.

Worthless Cheque

A cheque that cannot be processed because the account it is drawn on does not have sufficient funds.