Question

What is a foreign sector......​

Answer 1

Answer:

$\huge\bold\red{ANSWER :-}$

★FOREIGN SECTOR ★

➢ The primary function of the foreign sector is to undertake external activity that is outside the control of the domestic economy. ... The primary role it plays in the domestic economy is foreign trade. The domestic household, business, and government sectors purchase imports produced in the foreign sector.

Explanation:

➢ What It Does: Foreign Trade:-

The most important economic interplay between the domestic economy and the foreign sector is foreign trade. Foreign trade is simply the exchange of goods between countries. It works much like any exchange. The only difference is that the buyer resides in one country and the seller resides in another.

Foreign trade gives rise to two exchange flows--imports and exports.

➢ Imports :-

• ===>> Imports are goods produced by the foreign sector and purchased by the household, business, or government sectors in the domestic economy.
• ===>> Shady Valley offers examples of imports by the household sector. Pollyanna Pumpernickel often purchases bananas and coffee imported from South America, chocolate imported from Germany, and cheese imported from Switzerland from the local grocery store. Dan Dreiling, the drywall guy, recently purchased a new car imported from Japan.

➢ Exports:-

• Exports are goods produced by the domestic economy and purchased by the foreign sector.

Answer 2

Answer:

ᴛʜᴇ ᴘʀɪᴍᴀʀʏ ғᴜɴᴄᴛɪᴏɴ ᴏғ ᴛʜᴇ ғᴏʀᴇɪɢɴ sᴇᴄᴛᴏʀ ɪs ᴛᴏ ᴜɴᴅᴇʀᴛᴀᴋᴇ ᴇxᴛᴇʀɴᴀʟ ᴀᴄᴛɪᴠɪᴛʏ ᴛʜᴀᴛ ɪs ᴏᴜᴛsɪᴅᴇ ᴛʜᴇ ᴄᴏɴᴛʀᴏʟ ᴏғ ᴛʜᴇ ᴅᴏᴍᴇsᴛɪᴄ ᴇᴄᴏɴᴏᴍʏ. ... ᴛʜᴇ ᴘʀɪᴍᴀʀʏ ʀᴏʟᴇ ɪᴛ ᴘʟᴀʏs ɪɴ ᴛʜᴇ ᴅᴏᴍᴇsᴛɪᴄ ᴇᴄᴏɴᴏᴍʏ ɪs ғᴏʀᴇɪɢɴ ᴛʀᴀᴅᴇ. ᴛʜᴇ ᴅᴏᴍᴇsᴛɪᴄ ʜᴏᴜsᴇʜᴏʟᴅ, ʙᴜsɪɴᴇss, ᴀɴᴅ ɢᴏᴠᴇʀɴᴍᴇɴᴛ sᴇᴄᴛᴏʀs ᴘᴜʀᴄʜᴀsᴇ ɪᴍᴘᴏʀᴛs ᴘʀᴏᴅᴜᴄᴇᴅ ɪɴ ᴛʜᴇ ғᴏʀᴇɪɢɴ sᴇᴄᴛᴏʀ.

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