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A Korean-made washing machine purchased by a Chinese citizen is an example of a Korean _____, and a Chinese-made washing machine purchased by a Korean citizen is an example of a Korean _____.

Options:
a) Import, export
b) Export, import
c) Domestic good, imported good
d) Trade surplus, trade deficit

1 Answer

4 votes

Final answer:

A Korean-made washing machine bought by a Chinese citizen is a Korean export, whereas a Chinese-made washing machine bought by a Korean is a Korean import.

Step-by-step explanation:

A Korean-made washing machine purchased by a Chinese citizen is an example of a Korean export, and a Chinese-made washing machine purchased by a Korean citizen is an example of a Korean import. When a country sells goods to another country, these goods are exports for the selling country. Conversely, when a country buys goods from another country, those goods are imports for the buying country. In our globally connected marketplace, countries often trade similar goods, such as electronics or vehicles, and the trade balance is affected by the relative amounts of imports and exports.

User Mateus Viccari
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