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buying products produced in another country is known as multiple choice importing. trade protectionism. comparative advantage. exporting.

Sagot :

Buying products produced in another country is known as importing.

Exporting is selling products done in the country abroad.

Trade protectionism is a State's disposition that interferes with free trade in order to protect and encourage local production.  It consists of barriers to importation, like heavy duties or prohibition of importing certain products.

Comparative advantage is the specialization in the production of a certain good that has lower opportunity costs of production than competitors. For example, a country with plains and grasslands has a comparative advantage for specialization in agriculture.

As you can see, importing is the correct answer, because it consists of buying goods and services abroad for consumption in one's country.

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