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Write a paragraph describing how countries decide what goods to export and what goods to import.

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Answer:

Countries decide what to export and  import depending on the necessity and current trade levels. Countries participate with others in trades to benefit from each other in this mutualism. Countries decide what to export depending on the need and popularity of a product in another country. This needs to be reevaluated constantly, so they can continue making money, and that the trade generates revenue. Exportation and importation is highly influenced by government policies, and by availability of a product. Many countries limit their imports, encouraging consumers to purchase from the country's own stock, benefiting the countries individual economy. Importing is done to receive products that are not easily acquired in the country where they reside in. Trade needs to be balanced, and continuously happening, otherwise, friendly relations, due to benefiting the other's economy, could turn sour.

Parrain

Countries decide what to import and export based on the resources they have and those that they don't.

The various countries of the world have varying resources which can be of use to countries that do not have them. As a result, countries began to trade goods and services so that they will get access to more goods and services.

Countries that export a good:

  • can produce those goods in high quantity
  • can produce those goods cheaply
  • usually have the resources required to produce those goods.

Countries that import a good:

  • usually don't have the resources the good requires
  • find producing the good in question to be quite expensive

In conclusion, the needs and wants of a country are taken into account when the country needs to decide what good to export and which to import.

Find out more at https://brainly.com/question/613930.

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