Which practice involves bringing goods into one country from another?

Study for the QCAA Business Test. Use flashcards and multiple choice questions, each with hints and explanations. Prepare effectively for your success!

The correct answer is importing, which refers to the process of bringing goods or services into a country from abroad. This practice is a crucial component of international trade and allows countries to access products that may not be available domestically or to obtain them at a lower cost than if they were produced locally. Importing helps diversify the market offerings, enhances consumer choice, and can stimulate competition, which can ultimately lead to better prices for consumers.

In contrast, exporting involves sending goods or services produced in one country to another country. Licensing and franchising are business practices that relate to intellectual property and business operations but do not specifically pertain to the physical movement of goods between countries. In licensing, a business allows another to use its intellectual property for a fee, while franchising involves one business allowing another to operate using its brand and business model.

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