Answer to Question #315920 in Macroeconomics for Mabhty

Question

Explain FIVE ways that imports and exports can benefit a company like Volkswagen

Answer 1

Exports and imports can be quite beneficial to a firm like Volkswagen. When a corporation imports items from various countries, new products are introduced to the company, which aid in the creation of its products. Some raw materials may not be available in the country, thus importing them may be the best alternative. Exporting their goods could merely assist them in making money.

Volkswagen can also benefit from importing skills from diverse nations with the relevant expertise. They might take use of this chance to train their personnel in these abilities. They can also improve their production line by importing new skills and raw materials from other countries and gaining new ideas. Volkswagen can increase employment creation by hiring competent workers from other countries.