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in the iowa car crop, steven landsburg argues that importing cars from japan and exporting wheat from iowa is analogous to…

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ogorwyne

In the iowa car crop, Steven landsburg argues that importing cars from japan and exporting wheat from Iowa is analogous to growing cars in Iowa.

What does it mean to import?

Importing is the process of importing goods or services produced abroad into a nation for resale. Companies based in the United States who purchase goods abroad and bring them here for sale or for use in an American-made product are said to be importing.

Any good that is created abroad and then imported into another nation is an import. For instance, if a Belgian company manufactures chocolate and sells it in the US, that would be considered an import from the American point of view.

Countries would engage in international trade while exporting the items in which they have a comparative advantage, according to the comparative advantage principle. No country or individual can have a comparative advantage in every good.

Read more on imports here: https://brainly.com/question/29729620

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