The definition of import is basically bringing sources or goods from one country to another. For example, a person brings some plants from one place to another. This can have a big risk because some plants that are not native can be invasive. Export is basically taking away a resource from one country which in a easier way of explaining would be that the meaning of export is the opposite of import which can be confusing but one of the main differences between import and export is that one is bringing something and the other is taking away something.
The import situation in the U.S. 200 years ago was good at first but became sort of a problem later on. The reason behind all of this is because the government made taxes much higher than before. Before when the products had been imported, it would be successful since it would not cost a lot. But then, after a while taxes were so high that people stopped buying them which caused parts of the importation to become unsuccessful as less and less people were going to buy the products due to the overtax which was a major problem and made many people suffer in financial ways.
The last time I had done research about this, the country that imports the most is China. It is actually pretty well known that in China as many things like chopsticks were made in China as even some of my erasers say they were made in China. One of the benefits is that they are much cheaper and the quality is just as good which means less money for good quality things which is very beneficial for the people that can’t afford spending lots of money.
China is the biggest exporter since they have found a way of being very officiant and makes and constructs stuff very fast with much higher quality. For example one of the most popular things they are good at is basically building railways. Their time management in construction is way more efficient than the ones in Canada. That is one of the main reasons why China is one of the biggest countries in the world for exporting as they are very efficient and create stuff that are of very good quality and are actually sometimes cheaper.
The law of Supply and demand is defined as the relationship between availability of a product and desire of the product or source which in other words would be defined as import and export. The definition of import is basically bringing sources or goods from one country to another. Export on the other hand is basically taking away a resource from one country which in an easier way of explaining would be that the meaning of export is the opposite of import. IN the end this is most likely and most probably what law of supply demand is defined as.
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