WAEC Economics 2014 Objective — Question 38

Question 38 of 50 from the West African Examinations Council (WAEC) Economics 2014 Objective paper, with the correct answer and a full explanation.

Which of the following is not a reason countries import goods?

A. Differences in natural endowments
B. The law of absolute advantage
C. Differences in tastes
D. The love for other nationsCorrect

Explanation

Countries import goods from other nations because they do not have resources to produce or what they find costly to produce, or to have a taste of new products — not out of love for other nations.

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