Imports: How they affect your economy and standard of living

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ImportsHow they affect your economy and
standard of living

• Deanna Briseno
• Alex Guevara
• Melissa Arevalo
• Eulises Banuelos

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What are imports?

• Goods bought from other countries for domestic
  use.
• Industrial and consumer goods
• Goods, such as food and clothing, that satisfy
  human wants through their direct consumption or
  use.
• Raw materials, equipment, or product components
  required by a business for the production or
  distribution of other goods or services

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The EconomyHow do imports affect this?

• A country is nothing without money and
  development
• Imports and exports are very important to a
  countrys economy.
• They affect economy because, the amount of
  production inside and outside of a given piece of
  land shows how much money is being circulated
  throughout their space and paid to other lands
• Also if a country is wealthier or more developed,
  they are more likely to bring in more imports

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Standard of living

• The quality and quantity of goods and services
  available to people, and the way these goods and
  services are distributed within a population.

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How imports affect the standard of living

• Standard of living depends on the goods and
  services that a nation consumes, not on what they
  produce.
• When more goods are sent abroad and no more come
  from abroad, the total goods available for
  consumption fall, causing a reduction in
  standards of living.
• Policies of trying to increase domestic income by
  increasing exports and reducing imports are
  likely to be self-defeating. If followed by
  other countries, it can likely lower living
  standards in all countries.

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Brazil

• Imports
• Machinery, electrical and transport equipment,
  chemical products, oil, automotive parts,
  electronics
• Total 176 billion

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China

• Imports
• Electrical and other machinery, oil and mineral
  fuels, optical and medical equipment, metal ores,
  plastics, organic chemicals.
• Total 1.156 trillion

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Germany

• Imports
• Machinery, vehicles, chemicals, foodstuffs,
  textiles, metals.
• Total 1.202 trillion

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India

• Imports
• Crude oil, machinery, gems, fertilizer,
  chemicals.
• Total 287.5 billion

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Japan

• Imports
• Machinery and equipment, fuels, foodstuffs,
  chemicals, textiles, raw materials.
• Total 696.2 billion

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Myanmar

• Imports
• Fabric, petroleum products, fertilizer, plastics,
  machinery, transport equipment cement,
  construction materials, crude oil food products,
  edible oil.
• Total 3.589 billion

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Sierra Leone

• Imports
• Foodstuffs, machinery and equipment, fuels and
  lubricants, chemicals.
• Total 560 million

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U.S.A

• Imports
• Agricultural products, industrial supplies, crude
  oil, capital goods, consumer goods.
• Total 1.377 trillion

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