Question: Hi I'm trying to write a 200 word answer for the question below. I'm wondering if it would be uncertain because we do not know

Hi I'm trying to write a 200 word answer for the question below. I'm wondering if it would be "uncertain" because we do not know the opportunity costs of importing and exporting. Can you give me some advice? Also, what are some other factors other than opportunity costs that impact the import/export ? Thank you!

Australia's second biggest import is mineral fuels, including petrol. Given the importance of petroleum products in Australia,we should not be importing these products, but instead producing them ourselves. True/False/Uncertain?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!