Gordon buys inexpensive kitchen gadgets from suppliers in China and the Far East and sells them at a flea market booth. This is an example of which international business activity?

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Multiple Choice

Gordon buys inexpensive kitchen gadgets from suppliers in China and the Far East and sells them at a flea market booth. This is an example of which international business activity?

Importing is the act of bringing goods into your own country from abroad for resale. Gordon’s move fits this because he purchases inexpensive kitchen gadgets from suppliers in China and the Far East and then sells them locally at a flea market booth. He’s moving products from overseas into his domestic market, which is exactly what importing describes. Exporting would mean selling goods produced in your country to foreign markets, which isn’t what he’s doing. Licensing or franchising involve granting others the rights to use a brand or business model or system, often with ongoing fees, rather than simply buying and selling physical goods.

Importing is the act of bringing goods into your own country from abroad for resale. Gordon’s move fits this because he purchases inexpensive kitchen gadgets from suppliers in China and the Far East and then sells them locally at a flea market booth. He’s moving products from overseas into his domestic market, which is exactly what importing describes.

Exporting would mean selling goods produced in your country to foreign markets, which isn’t what he’s doing. Licensing or franchising involve granting others the rights to use a brand or business model or system, often with ongoing fees, rather than simply buying and selling physical goods.

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