Question

The United States buys copper from Chile's Escondido copper mine. The copper is used to make wiring for the U.S. telecommunications industry and for many other purposes. For the U.S., the copper is an example of a(n):

a. Export
b. Import
c. Trade deficit
d. Trade surplus

Answer 1

The copper bought by the United States from Chile's Escondido copper mine is an example of an import since it is a resource that is brought into the U.S. from another country for use in industries such as telecommunications.

Step-by-step explanation:

When the United States buys copper from Chile's Escondido copper mine, the copper serves as a resource used in various industries, including the telecommunications industry. For the U.S., the copper purchased from Chile is an example of a Import. An import is a good or service brought into one country from another. The opposite of an import is an export, which is a good or service produced within the country and sold to customers outside the country's borders. The concept of import is related to the idea of trade deficits and trade surpluses, which refer to the balance of trade between a country's imports and exports. A trade deficit occurs when a country imports more than it exports, while a trade surplus occurs when a country exports more than it imports.