Suppose you live in Rwanda, which imports relatively cheaper fish products from China. The Proudly Rwanda...

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Suppose you live in Rwanda, which imports relatively cheaper fish products from China. The Proudly Rwanda fish is priced higher than the Chinese imported fish. You have the option to buy both fish at supermarkets across Rwanda. With reference to the circular flow of goods and services and the circular flow of income and spending between households, firms, government, and the foreign sector, provide an explanation for why it is better to purchase the Proudly Rwanda fish products. Also explain the opportunity costs of buying Chinese fish products instead of those produced locally in Rwanda. Suppose you live in Rwanda, which imports relatively cheaper fish products from China. The Proudly Rwanda fish is priced higher than the Chinese imported fish. You have the option to buy both fish at supermarkets across Rwanda. With reference to the circular flow of goods and services and the circular flow of income and spending between households, firms, government, and the foreign sector, provide an explanation for why it is better to purchase the Proudly Rwanda fish products. Also explain the opportunity costs of buying Chinese fish products instead of those produced locally in Rwanda.

Answer rating: 100% (QA)

Choosing Proudly Rwanda fish products over Chinese imports supports the domestic economy in several ... View the full answer